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BIFI's recent performance has not been very promising. In the past 24 hours, the price has dropped 12.40%, currently stuck at $186.80. Both technical indicators and capital flow signals suggest weakness. Interestingly, this sharp decline has left some potential signs on the chart.
Let's first look at what the indicators say. The MACD line has fallen below the signal line, with both lines hovering in the negative zone, indicating that bearish momentum is still quite strong. The EMA is also underperforming, with the 7-day, 25-day, and 99-day moving averages all being overtaken by the current price, confirming a short- to medium-term downtrend. However, there is a turning point—RSI shows an extreme abnormal value. The 6-period RSI is only 3.33, and the 12-period is just 16.23. Such severe oversold conditions usually imply a rebound is not far off.
Recent capital flow data shows some major players concentrating on selling, with total inflow turning deeply negative. But it is precisely this concentrated selling pressure that has driven the price so low. The community's reaction is quite interesting—although it looks tough, many are starting to consider buying the dip. Some technical analysts believe that after this 12.40% decline, BIFI could rebound to the range of $210 to $225.
Overall, BIFI is currently caught between two opposing forces. On one side, the MACD and price levels indicate ongoing downward pressure; on the other, the extreme oversold RSI state usually triggers a rebound expectation. The short-term direction will depend on which force has more influence.