Odaily Planet Daily reported that Matrixport, in its latest chart analysis, pointed out that Bitcoin remains in a correction phase overall after breaking below a key technical level. It stated that the 21-week moving average is a core indicator for observing Bitcoin’s bullish and bearish shifts. In past market movements, this moving average has provided reliable follow-through signals during upward trends and often issued risk warnings before sharp pullbacks, helping investors avoid significant downward volatility.
Reviewing this round of movement, Matrixport said that when Bitcoin broke below the 21-week moving average in the fourth quarter, it signaled that the market correction could deepen further. Although there was a temporary rebound in late December, the price quickly faced resistance and fell back after approaching the 21-week moving average, and it has never been able to regain stability above this line. Based on this judgment, the overall structure of Bitcoin remains in a correction zone.
Matrixport also pointed out that in the short term, a tactical rebound cannot be ruled out, but so far, there are no clear signals to support a new sustained upward trend.
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