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.

Great points! The crossover of the 50-day MA above the 200-day could indeed signal a shift, but the RSI suggests caution. Keep monitoring for any changes in momentum.