Analyst: Although Bitcoin is unlikely to rebound in the short term, it is still bullish in the long run.

CNBC cryptocurrency analyst Big Cheds said that it may be short-term bearish in the next few days, but it is still bullish in the long run. Big Cheds pointed out that on October 6, Bitcoin once again showed the trend of the weekly candle market with dice at the bottom. This trend may be a sign of asset price reversal. The analyst pointed out that the dice model appeared near the bottom of the weekly Bollinger Band indicator, indicating that bitcoin prices are relatively low. The above indications indicate that Bitcoin is oversold, but he added that Bitcoin's market has not been strong in the past week: "From July 2018 to May 2019, there is support, so the possibility of a rebound in the short term is not In addition, there is a hidden bullish divergence between the lower lows of OBV and the price, indicating that the bull market will continue.” Note: OBV, the On Balance Volume, was created by US investment analyst Joe Granville. This indicator speculates on stock price trends by statistic of trends in volume changes.