PANews, November 25th news, Matrixport released an analysis today stating that Bitcoin's recent rapid rebound, after experiencing a significant pullback earlier, is primarily driven by sentiment recovery.
The report mentioned last Friday that after the sentiment indicator fell to extreme levels, the probability of a short-term Rebound has increased, and this phase of Rebound has already been realized. However, analysts believe that this is not a signal for the start of a new bull market; the current market structure is complex, and risk appetite is relatively weak. The Rebound is more suitable as a tactical trading opportunity for the short term, rather than the starting point of a trend.
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Analysis: The recent rebound of Bitcoin is a short-term opportunity driven by emotional recovery, not a signal of a new bull run.
PANews, November 25th news, Matrixport released an analysis today stating that Bitcoin's recent rapid rebound, after experiencing a significant pullback earlier, is primarily driven by sentiment recovery. The report mentioned last Friday that after the sentiment indicator fell to extreme levels, the probability of a short-term Rebound has increased, and this phase of Rebound has already been realized. However, analysts believe that this is not a signal for the start of a new bull market; the current market structure is complex, and risk appetite is relatively weak. The Rebound is more suitable as a tactical trading opportunity for the short term, rather than the starting point of a trend.