Matrixport: The market may not be close to a rebound yet; we need to wait for clear signals from the Treasury or the Federal Reserve

ChainCatcher message, Matrixport released today's chart stating that Bitcoin is currently in another adjustment phase. Historically, in the past four instances when the Stochastics Index fell to 15%, Bitcoin experienced a significant rebound. However, the index is currently at 25%, indicating that the market may not be close to a rebound opportunity yet.

Although President Trump claims that the Chinese side is eager to negotiate, there has been no response from the Chinese side, and market sentiment remains cautious. Meanwhile, despite a 20% pullback in the U.S. stock market, the Treasury or the Federal Reserve has not clearly signaled support, so it may not be the ideal time to "buy the dip" in Bitcoin before the Stochastics Index approaches the critical 15% threshold.