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Is anyone else looking at the RSI? It's deep into oversold territory, around 26. Could signal a potential bounce soon. I'm thinking of scaling in a small long position if it shows signs of reversal near this level. What are your thoughts on using RSI as a primary indicator right now?
Update: I'm also watching the pivot points. S1 at 64498 and S2 at 64338 are key support levels to watch. If BTC breaks below these levels, we could see further downside towards 63000 or even lower. On the upside, we need to reclaim the 20 SMA and break above R1 at 64861 to regain some bullish momentum. I'm setting alerts at these key levels to monitor the price action closely. Will update if anything changes. Also, I forgot to mention, I am checking the D1 chart for divergence.
