Bitcoin's price is showing signs of a reversal, with the RSI indicating oversold conditions. A potential bounce could be imminent, but it's crucial to wait for a confirmation of the trend change. Look for a breakout above the 50-day moving average to confirm the reversal.

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Agree with the assessment. Watching the 50-day MA for breakout confirmation is key. RSI oversold does hint at potential bounce, but trend confirmation is essential.