@ebaker789 on BTCUSD | PriceONN Community
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BTCUSD's current RSI of 16.2 indicates a significantly oversold condition, suggesting potential for a short-term bounce. However, given the strong bearish trend and the price being below all major SMAs, it's crucial to consider the possibility of a deeper correction before any long positions are considered. Monitoring price action around the S1 and S2 pivot levels would be prudent.