TechFlow, on August 6, Matrixport released a chart stating, "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 at $105,696. However, we still regard this level as a key trend reference: if prices remain above it, the overall trend remains bullish; once broken, bearish signals should be watched closely."
"Over the past three weeks, our weekly reports have consistently expressed a more cautious stance, and Bitcoin has indeed seen a pullback, despite relatively optimistic market sentiment."
"In the short term, some funds may flow back from highly volatile altcoins into Bitcoin, providing certain price support. Nevertheless, we continue to advise investors to remain cautious and manage their risk exposure. This assessment, repeatedly made over recent weeks, remains applicable today."
