PANews reported on November 4th that Matrixport analysis points out that Bitcoin's price is currently close to its 21-week moving average, an indicator that has proven valuable over multiple periods in the past.

Analyst Markus Thielen stated that while the current trend may see further declines, it does not signify the end of the rally. This reminds investors that instead of being swayed by short-term market fluctuations, it is better to refer to time-tested indicators as a stable basis for decision-making.