Matrixport: If the Bitcoin price is above $105696, the overall trend is still bullish

BlockBeats news, on August 6th, Matrixport released today's market analysis stating that "at this stage, it may still be premature or even pessimistic to judge whether Bitcoin will fall back to the 21 week moving average of $105696. However, we still consider this level as a reference for key trends: if the price is above this level, the overall trend is still bullish; once it falls below, we need to be alert to bear market signals. Over the past three weeks, we have consistently expressed a more cautious stance in our weekly reports, and Bitcoin has also experienced a pullback, although market sentiment remains relatively optimistic. In the short term, some funds may flow back from highly volatile altcoins to Bitcoin, providing some support for the price. But we still recommend investors to remain cautious and control their risk exposure. This judgment has been raised multiple times in the past few weeks and is still applicable