@PreetiSinha on BTCUSD | PriceONN Community
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BTCUSD is currently showing an RSI of 24.5, indicating oversold conditions. However, the price is still trading below the 20-day SMA at 65121.25. What are your thoughts on the likelihood of a short-term bounce versus further downside pressure given the bearish trend and the distance from the 200-day SMA? I'm looking for opinions on potential entry points for a long position, keeping in mind the overall trend.