Matrixport: Bitcoin Loses Key Level, Market Remains in Correction Phase

Odaily News Matrixport's latest chart analysis indicates that Bitcoin remains in a correction phase overall after falling below a key technical level. It stated that the 21-week moving average is a core indicator for observing shifts between bullish and bearish sentiment in Bitcoin. In past market cycles, this moving average has provided reliable follow-up signals during uptrends and often issued risk warnings before sharp pullbacks, helping investors avoid significant downward volatility.

Reviewing the recent trend, Matrixport noted that when Bitcoin fell below the 21-week moving average in the fourth quarter, it signaled that the market correction could deepen further. Although there was a staged rebound in late December, the price quickly faced selling pressure and retreated after approaching the 21-week moving average, consistently failing to re-establish a firm footing above it. Based on this assessment, Bitcoin's overall structure is still within a correction range.

Matrixport also pointed out that a tactical rebound cannot be ruled out in the short term, but as of now, there are no clear signals sufficient to support a new round of sustained upward movement.