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Matrixport: Bitcoin Price Still Bullish if Above $105,696, Caution Advised
Summary: Matrixport's market analysis released today suggests that it may be premature and even somewhat pessimistic to judge whether Bitcoin will fall to the 21-week moving average of $105,696 at this stage. However, we still consider this level as a key reference for trends: if the price is above this level, the overall trend remains bullish; ...
Matrixport's market analysis released today suggests that it may be premature and even somewhat pessimistic to judge whether Bitcoin will fall to the 21-week moving average of $105,696 at this stage. However, we still consider this level as a key reference for trends: if the price is above this level, the overall trend remains bullish; once it falls below, caution for a bearish signal is needed. In the past three weeks, we have maintained a more cautious stance in our weekly reports, and Bitcoin has experienced a pullback, despite relatively optimistic market sentiment. In the short term, some funds may flow back from high-volatility altcoins to Bitcoin, providing some support for the price. However, we still advise investors to remain cautious and control risk exposure. This assessment has been reiterated several times in the past few weeks and remains relevant.
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Link: Matrixport: Bitcoin Price Still Bullish if Above $105,696, Caution Advised [Copy]
