TechFlow news, August 12 — Matrixport released its daily chart analysis today, indicating that Bitcoin has broken out of its triangular consolidation pattern. Although the strong gains seen during Asia trading hours pulled back somewhat during European and U.S. sessions, the upward trend will continue as long as prices remain above $116,800. Analysts noted that while higher-than-expected inflation data may affect expectations for two Fed rate cuts this year, Bitcoin’s price could rise gradually rather than parabolically, especially considering the current seasonal weakness period. At present, the crypto market continues to attract capital inflows through multiple channels, and long-term investors are expected to see returns within the year.
Risk Disclosure: This website's content is not investment advice and offers no trading guidance or related services. Per regulations from the PBOC and other authorities, users must be aware of virtual currency risks. Contact us / support@techflowpost.com ICP License: 琼ICP备2022009338号
