Bloomberg: Bitcoin is approaching a critical inflection point

Bloomberg reported that Bitcoin is approaching a critical inflection point and its price is approaching the lower limit of the Trading Envelope indicator. The indicator smoothes the moving average to show higher and lower intervals. After falling below the lower interval, a retracement similar to that on September 24 may occur, when Bitcoin dropped 12% in one day. . Another scenario is that if Bitcoin rebounds from the lower limit, it may signal a level of support and a similar rally as on October 25, when Bitcoin rose by 15%.