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Just checked Bitcoin's RSI and it's flashing oversold signals right now. For those not deep into RSI trading, this basically means the momentum indicators are suggesting we might be near a local bottom. The Relative Strength Index is one of those tools that catches a lot of traders' attention when it dips into extreme territory.
Not saying this guarantees a bounce - technical indicators can stay extreme for longer than you'd expect. But oversold RSI readings have historically been worth watching if you're doing any kind of swing trading or looking for entry points. The key with RSI trading is not to treat it as a standalone signal, but more as one piece of the puzzle alongside price action and support levels.
Anyone else watching the RSI levels closely right now?