PANews reported on November 5th that, according to Matrixport analysis, Bitcoin is currently approaching oversold territory, a region historically prone to rebounds. However, technical indicators show no clear signs of a bottom yet, and whether the market has entered a correction phase remains to be seen. Furthermore, Bitcoin's price has retraced to the previously indicated risk zone, making it attractive for buying on dips, but continued upward movement still requires positive macroeconomic catalysts. Some technical indicators, such as the RSI, have shown signs of stabilization and recovery, but the market may still need to undergo a deleveraging and clearing process driven by spot trading to complete its bottoming process.PANews reported on November 5th that, according to Matrixport analysis, Bitcoin is currently approaching oversold territory, a region historically prone to rebounds. However, technical indicators show no clear signs of a bottom yet, and whether the market has entered a correction phase remains to be seen. Furthermore, Bitcoin's price has retraced to the previously indicated risk zone, making it attractive for buying on dips, but continued upward movement still requires positive macroeconomic catalysts. Some technical indicators, such as the RSI, have shown signs of stabilization and recovery, but the market may still need to undergo a deleveraging and clearing process driven by spot trading to complete its bottoming process.
Analysis: Bitcoin is approaching oversold territory; signs of stabilization still need to be observed.
2025/11/05 15:13
PANews reported on November 5th that, according to Matrixport analysis, Bitcoin is currently approaching oversold territory, a region historically prone to rebounds. However, technical indicators show no clear signs of a bottom yet, and whether the market has entered a correction phase remains to be seen. Furthermore, Bitcoin's price has retraced to the previously indicated risk zone, making it attractive for buying on dips, but continued upward movement still requires positive macroeconomic catalysts. Some technical indicators, such as the RSI, have shown signs of stabilization and recovery, but the market may still need to undergo a deleveraging and clearing process driven by spot trading to complete its bottoming process.
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
Share Insights
You May Also Like
ASTER Waking Up Again: Is the Journey to New All-Time High Starting?
ASTER has had a wild start since launching in September. It quickly multiplied in value before losing strength and falling into a steady decline. For weeks, ASTER price has moved inside a descending wedge, creating lower highs and lower lows. The chart shows this downward trend may be slowing. Two days ago November, Aster token
Share
Coinstats2025/11/05 21:08
XRP ETF buzz grows as Franklin Templeton and Bitwise eye November launch
The race to launch an XRP ETF on the U.S market is underway as firms like Bitwise, Franklin Templeton and Canary Capital prepare to launch ETFs in November. Traders are gearing up for the launch of XRP exchange-traded funds on…
Share
Crypto.news2025/11/05 20:48
VS treedt op tegen Noord-Koreaanse crypto netwerken
De Amerikaanse overheid haalt opnieuw uit naar Noord-Koreaanse cyber netwerken. Het ministerie van Financiën heeft acht personen en twee bedrijven op de sanctielijst gezet vanwege hun rol in het witwassen van miljarden aan crypto. Deze fondsen worden volgens de VS ingezet om het nucleaire en raketprogramma van Noord-Korea te financieren.... Het bericht VS treedt op tegen Noord-Koreaanse crypto netwerken verscheen het eerst op Blockchain Stories.
Share
Coinstats2025/11/05 21:19