BIT Weekly Report: BTC technical side shows oversold signal, but it's still too early for bear market to end On April 10th, according to the weekly report of BIT on Target, despite multiple positive factors such as the recent ceasefire announcement, rising inflation pressure, and increasing expectations of the transition of the Federal Reserve chairman, the overall response of the Bitcoin market remains flat, showing a significantly weaker than expected performance. Technically speaking, Bitcoin has entered a clear oversold range, with a marginal rebound in weekly random indicators. However, the report warns that it is still too early to judge the end of the downward trend solely based on oversold signals - similar oversold conditions persisted for several months in 2022, during which rebound signals ultimately failed to form an effective reversal. The report suggests that the current focus is on which price point will trigger market repricing and the implementation of two key events next week. At the geopolitical level, there is still significant uncertainty in the implementation of the ceasefire arrangement pushed by Trump. Iran's influence in the Strait of Hormuz remains strong, and related shipping flows are significantly lower than normal levels. Geopolitical risks have not yet been fully clarified.