Timmer’s words are quite sensible—once the support level is reached, the rebound still needs the right winds to blow; for now, let’s just hold and accumulate.

Coin World News reports that Bitcoin is nearing a power-law support line Fidelity has tracked since 2015. Jurien Timmer, Fidelity’s global macro head, said this is an accumulation zone, but noted that there is currently a lack of catalysts for a rebound.