#我在Gate广场过新年 Market Summary for Today--Is it a rebound or a reversal?
This morning, after a sharp decline, the market rebounded. Bitcoin rose from 64,250 to 66,150, nearly a 3% increase, and Ethereum also followed the rebound. So, is this a reversal? I don't think so; there is still room for the market to decline. Currently, it's just a rebound after being oversold.
1. From a technical indicator perspective
On the 4-hour chart, Bitcoin is constrained by short-term moving averages; on the daily chart, it has just broken down from a consolidation range. A retracement here is also normal.
2. Fro