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Matrixport: BTC May Experience Phase of Cooling Down
Summary: Matrixport released a research report suggesting that the price of Bitcoin is approaching the upper boundary, with technical indicators indicating the market may enter a consolidation phase in the next 1-2 months. The RSI has crossed 70 into overbought territory, with multiple reversal signals showing signs of decline. The report advises to lock in profits ...
Matrixport released a research report suggesting that the price of Bitcoin is approaching the upper boundary, with technical indicators indicating the market may enter a consolidation phase in the next 1-2 months. The RSI has crossed 70 into overbought territory, with multiple reversal signals showing signs of decline. The report advises to lock in profits moderately, pointing out that the $106,000-$108,000 range is a key support level, with $122,000 as the next reasonable target. The US core CPI only slightly rose to 2.9%, lower than expected, and the Federal Reserve may not directly cut interest rates in July but could signal expectations management.
