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BTC Currently is attempting to maintain a position above this support level. The RSI indicates oversold conditions.
RSI is a momentum indicator that measures the speed and magnitude of recent price changes. It is often used to identify overbought and oversold conditions. In this case, the RSI is currently below 30, which suggests that BTC may be oversold.
Overall, the technical analysis of the chart suggests that the price of BTC is at a critical juncture. A break above the resistance level could signal a bullish breakout, while a sustained breakdown below the support level could indicate further bearishness.
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