Analysis: Bitcoin is approaching the Oversold zone, and the stabilization signal is still待观察.

PANews, November 5th news, according to Matrixport analysis, Bitcoin is currently approaching the Oversold region, which has historically been a high-frequency area for Rebound. However, the technical analysis shows that there has not yet been a clear stop-loss signal, and it remains to be seen whether the market has entered a recovery phase. In addition, the price of Bitcoin has pulled back to the previously indicated risk range, which has a certain attractiveness for low-position layout, but continuous upward movement still requires macro Favourable Information to drive it. Some technical indicators such as RSI have shown signs of stabilization and recovery, but the market may still need to undergo a deleveraging and chip clearing process dominated by Spot trading before completing the bottoming process.

BTC1.51%
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