February 5, 2026: RSI Flatlining Possible Bottom or Reversal?

I've been keeping an eye on the 6-hour chart, and to some extent, the 12-hour and daily charts, and it looks like the RSI has been stuck in a tight range. It's pretty much flat since the price hit around 71K and started to drop again. I might be reaching here, but could this be hinting at some strengthening? Even if we could dip below 60K, it’s interesting to see that the price isn't just plummeting. Especially with yesterday's VIX spikes and some shaky movements in the stock market, it's holding its ground, you know? The price action kind of reminds me of what went down from February to April 2025 or from August to September 2024. Sure, we eventually dropped lower in the second scenario, but the monthly and weekly RSI, along with the fear and greed indicators, weren’t nearly as low as they are today. I've noticed those predictions of a 50K bottom, but honestly, it doesn’t feel like the market is racing to get there. It seems like we might drift down slowly and potentially meet some deeper support levels like the realized price, production costs, or the 200-day moving average closer to 60K in a few weeks or months. If February 5 was a 0.05% chance event, we can probably conclude that the likelihood of another sharp drop happening soon is slim. Instead, a bounce back seems more likely and feels overdue, especially with all these confident "50K bottom" claims floating around.