Matrixport: If the Bitcoin price is above $105,696, the overall trend remains bullish.

BlockBeats news, on August 6, Matrixport released today’s market analysis stating that “At this stage, it may still be too early, or even overly pessimistic, to determine whether Bitcoin will fall back to the 21-week moving average of $105,696. However, we still consider this level as a key trend reference: if the price is above this level, the overall trend remains bullish; if it falls below, we need to be alert for Bear Market signals. Over the past three weeks, we have consistently expressed a more cautious stance in our weekly reports, and Bitcoin has also shown a pullback, although market sentiment remains relatively optimistic. In the short term, some funds may flow back from high Fluctuation alts to Bitcoin, providing some support for the price. However, we still advise investors to remain cautious and control their risk exposure. This judgment has been made multiple times over the past few weeks and remains applicable.”