Analytics Company Predicts What Could Happen to Bitcoin Price with Its Custom Metric – Is the Decline Over?

CoinMarketCap
03-02

Cryptocurrency analytics firm QuantEdgeB has released its latest analysis on Bitcoin, highlighting a potential shift in market sentiment as key indicators point to a recovery from oversold levels.

According to QuantEdgeB, Bitcoin’s Sentival indicator hit a value of -4 standard deviations (SD) on Feb. 25, indicating oversold conditions. Although Bitcoin’s price has continued to fall in recent days, Sentival has begun to rise. This divergence suggests that downward momentum may be weakening and a potential reversal may be underway.

Bitcoin has rallied towards the $85,000 level and Sentival is currently approaching -1SD. Analysts at QuantEdgeB suggest that if Sentival reaches its fair value, a sharper upward move could ensue, potentially accelerating Bitcoin’s recovery.

Related News: Vitalik Buterin Announces Support for Surprise Altcoin Proponent

While recent data suggests that the worst of Bitcoin’s recent downtrend may be over, analysts warn that confirmation is still needed. Market participants should closely monitor the $85,000 level and Sentival’s movement for further confirmation of the bullish trend, the firm said.

Sentival chart shared by analysts.

*This is not investment advice.

Continue Reading: Analytics Company Predicts What Could Happen to Bitcoin Price with Its Custom Metric – Is the Decline Over?

免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。

熱議股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10