As BTC continues to decline we approach some key technical areas. We may anticipate a sharp increase in demand, first at the 78.6 Fib, and below at the 200SMA. As we approach overbought territory on the RSI for the first time since September, we should consider how quickly BTC's price recovered in the past from similar levels. The last two times BTC became oversold on the RSI it rebounded back to ATHs within 20 days and 27 days respectively.
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oversold*