Matrixport: Bitcoin is approaching the oversold zone, but a reversal signal is still needed

Jinse Finance reported that Matrixport released its daily chart analysis, stating, "From a technical perspective, bitcoin is approaching the oversold region, which is typically an area where rebounds occur. However, for a meaningful recovery to form, a clear reversal day is usually required, which we have not yet seen. Previously, based on on-chain signals and market structure pressures, we had already issued a warning for this round of correction. Although 'buying the dip' here seems attractive, a more sustained reversal may still depend on the next macro-level positive catalyst, which has not yet appeared. Technical indicators such as RSI (Relative Strength Index) may begin to stabilize and turn upward, but before the market establishes a solid bottom, a further process of spot selling may still be needed to clear out positions."