Bitcoin flashes rare historical signal for major rebound

Bitcoin may be poised for a significant rebound as its Power Law Oscillator, a long-term technical valuation model, has dropped to 4.4%, CoinDesk reported. This level of decline is exceptionally rare in the asset's history. A 4.4% reading on the oscillator signifies that the current price is cheaper than 95.6% of its long-term trendline. Historically, such low levels have only been reached during the COVID-19 crash in March 2020 and the FTX collapse in November 2022, making the current period the third most attractive dip-buying opportunity on record. While there is no absolute guarantee that this support level will hold, the outlet noted that long-term mathematical regression analysis suggests downside pressure is extremely limited.