Matrixport: Bitcoin May Be Entering a Period of Temporary Cooling
According to a report by Jinse Finance, Matrixport has released a research note stating that Bitcoin's price is approaching the upper boundary, and technical indicators suggest the market may enter a consolidation phase in the next 1-2 months. The RSI has surpassed 70, entering the overbought zone, and several reversal signals are showing signs of a pullback. The report recommends moderately locking in profits and points out that the $106,000-$108,000 range is a key support level, with $122,000 as the next reasonable target. The U.S. core CPI only rose slightly to 2.9%, below expectations, and while the Federal Reserve is unlikely to cut rates directly in July, it may signal expectations management.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Ethereum Block Gas Limit Raised to 45 Million, Significantly Boosting Transaction Throughput and Scalability
USDC Treasury burns 55 million USDC on the Ethereum network
Trader AguilaTrades’ 20x Leveraged BTC Long Position Now Valued at $200 Million
Aguila Trades opens 40x BTC long position at an entry price of $118,033.3
Trending news
MoreCrypto prices
More








