TechFlow, August 18 — Matrixport released a chart today stating, "Bitcoin's current pullback failed to hold the downward trendline, differing slightly from our previous expectation. The downside is expected to be limited at present, but ahead of the Fed's September meeting, market sentiment is turning cautious, and prices may retest the support level at $112,000.
The Jackson Hole symposium is unlikely to deliver substantial signals, as it leans more toward academic discussion and has limited influence on markets. Currently, the real market catalyst investors are watching is the FOMC meeting on September 17.
From a technical perspective, Bitcoin is hovering between $112,000 and $117,292, offering traders two strategies: going long on a breakout upward, or building positions when price retreats near $112,000—whichever scenario occurs first."
