Odaily News Matrixport released today's chart saying that Bitcoin is currently in another adjustment phase. Historically, Bitcoin has rebounded significantly in the past four times when the Stochastics Index fell to 15%. However, the indicator is still at the 25% level, indicating that the market may not be close to rebounding yet.
Despite President Trump's claims that China is eager to negotiate, the Chinese side has not responded, and market sentiment remains cautious. At the same time, despite the 20% correction in US stocks, there has been no clear support signal from the Treasury or the Federal Reserve, so now may not be the ideal time to "buy the bottom" of Bitcoin before the stochastic indicator approaches the key 15% threshold.