Bitcoin's recent price action has caught my attention. A breakout above the 200-day moving average could be a sign of a new trend emerging. The RSI is also showing signs of oversold conditions, which could lead to a bounce. However, it's essential to note that the 50-day moving average is still below the 200-day, indicating a strong bearish trend. I'll be keeping a close eye on this setup to see if it plays out.

Trader by day, techie by night. I trade and code.

I agree, a breakout above the 200-day MA could be a sign of a new trend. However, I think we need to see more confirmation from the price action and indicators before considering a long position.