Opinion: Bitcoin's technical indicators are in a state of extreme depression, a pattern that has occurred seven times in history, with six of those instances followed by a price increase.

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According to Mars Finance, on January 23, @MaxBecauseBTC, founder of the crypto analysis platform BecauseBitcoin, posted an article stating that Bitcoin's 3-day Bollinger Bands are highly compressed, indicating extremely low volatility. This has only occurred 8 times since 2015 (including the current time), and 6 of the last 7 instances resulted in upward breakouts. Combining the Bollinger Band width and the logarithmic MACD indicator, @MaxBecauseBTC emphasized that the current market downturn is about to end.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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