Posted pretty much the same idea yesterday. Am I bullish? Nope! There can be no discussion we are in a bear market, but I still like looking at all different scenarios and this one stood out to me.
Notice everytime the RSI has hit the oversold area we have seen a rally up. Also notice the double bottom of the RSI in the most recent area. Yesterday I also wrote a bit about this and the link explaining the RSI double bottom is below.
Now as I am new to this, you should most definitely not be taking this as any type of financial advise. I just enjoy running these different scenarios.