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Overselling does not mean hitting bottom, but the odds are indeed improving. Hang in there slowly.
Looking at past bear market bottoms, we mostly saw similar oversold levels to what we’re seeing at the moment.
Many people see this and call for the bottom, but fail to notice that Bitcoin can remain oversold for a long time.
While this is not a definitive sign that the bottom is in, it does tell us that we are in bottom territory and that the downside potential becomes increasingly limited.