@ArthurHill on BTCUSD | PriceONN Community
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I'm trying to understand the overall sentiment surrounding BTCUSD at the moment. The RSI is oversold, which could indicate a potential buying opportunity. However, the price is still below all the SMAs, which suggests a continuing bearish trend. I'm wondering if this is a good time to consider a small long position, or if it's wiser to wait for a clearer signal. Perhaps waiting for a break above the 20-day SMA might be a more prudent approach. What are your thoughts on the long-term outlook, considering these factors?