Using @Whentotrade's cyclic smoothed RSI indicator (which is well-suited to measuring RSI in the more volatile crypto markets) we see that BTC is just barely oversold, indicating a short-term recovery.
The cyclic smoothed RSI indicator is an enhancement of the classic RSI , adding * additional smoothing according to the market vibration, * adaptive upper and lower bands according to the cyclic memory and * using the current dominant cycle length as input for the indicator.