Since the appearance of the weekly oversold signal for Bitcoin, the cumulative rebound has reached 12.27%.
Although it is still too early to draw conclusions, I would not rashly assume that this rebound means a temporary bottom has been established, or that the market has officially begun a trend reversal, nor am I inclined to make subjective market predictions.
However, the current position does hold certain reference value and is worth ongoing attention.
Historical data shows that similar weekly oversold signals have only appeared four times in the past, and each time after that, the price of Bitcoin has shown a notable phase rebound.
Whether this time will become the fifth remains unknown, but this technical signal itself cannot be ignored, regardless of the outcome.
