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BTC is sitting at $61,400 and the chart is telling a very specific story.
The daily RSI just printed 29. The weekly RSI is at 39 and curling.
The last two times BTC touched these RSI levels on the daily, it did not stay there long.
$74,800 is the key level everyone is watching. That was the previous structure high before the breakdown.
Price needs to reclaim it with conviction or this bounce means nothing.
Here is what the chart is showing right now: