According to a report from 深潮 TechFlow on August 6, Matrixport released a chart today stating, "At this current stage, it may still be too early, and even somewhat pessimistic, to determine whether Bitcoin will fall back to the 21-week moving average of $105,696. However, we still regard this level as a reference for the key trend: if the price is above this level, the overall trend remains biased towards long positions; if it breaks below, one must be wary of Bear Market signals.



In the past three weeks, we have consistently expressed a more cautious stance in our weekly reports. Bitcoin has also seen a pullback, although market sentiment remains relatively optimistic.

In the short term, some funds may flow back from highly volatile altcoins to Bitcoin, providing certain support for the price. However, we still advise investors to remain cautious and control their risk exposure. This assessment has been mentioned multiple times in the past few weeks and remains applicable.
BTC-0.26%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)