Odaily Planet Daily reports that Matrixport released a chart today stating that at this stage, it may still be premature, and even pessimistic, to determine whether Bitcoin will fall back to its 21-week moving average of $105,696. However, we still view this level as a key trend reference: if the price is above this level, the overall trend remains bullish; if it falls below this level, it is necessary to be vigilant against bearish signals.

Over the past three weeks, we have continued to express 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 into Bitcoin from highly volatile altcoins, providing some support for the price. However, we still recommend that investors remain cautious and limit their risk exposure. This assessment, which has been made several times over the past few weeks, remains relevant today.