Analytics Company Predicts What Could Happen to Bitcoin Price with Its Custom Metric – Is the Decline Over?

Cryptocurrency analytics firm QuantEdgeB has released its latest analysis on Bitcoin, highlighting a potential shift in market sentiment as key indicators point to a recovery from oversold levels.

According to QuantEdgeB, Bitcoin’s Sentival indicator hit a value of -4 standard deviations (SD) on Feb. 25, indicating oversold conditions. Although Bitcoin’s price has continued to fall in recent days, Sentival has begun to rise. This divergence suggests that downward momentum may be weakening and a potential reversal may be underway.

Bitcoin has rallied towards the $85,000 level and Sentival is currently approaching -1SD. Analysts at QuantEdgeB suggest that if Sentival reaches its fair value, a sharper upward move could ensue, potentially accelerating Bitcoin’s recovery.

While recent data suggests that the worst of Bitcoin’s recent downtrend may be over, analysts warn that confirmation is still needed. Market participants should closely monitor the $85,000 level and Sentival’s movement for further confirmation of the bullish trend, the firm said.

Sentival chart shared by analysts.

*This is not investment advice.

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