Matrixport: Ideal Bitcoin "Buy the Dip" Opportunity Not Yet Here

BlockBeats News, April 9th, Matrixport released its daily chart analysis stating that Bitcoin is currently in another correction phase. Historically, in the past four instances when the Stochastics Index dropped to 15%, Bitcoin has experienced a significant rebound. However, the index is currently at a level of 25%, indicating that the market may not be close to a rebound opportunity yet.

Despite President Trump's claim that China is eager to negotiate, China has not responded, and market sentiment remains cautious. Meanwhile, although the US stock market has seen a 20% correction, the Treasury Department or the Federal Reserve has not clearly signaled support. Therefore, until the Stochastics Index approaches the key 15% threshold, now may not be the ideal time to "buy the dip" in Bitcoin.