Matrixport: As long as Bitcoin stays above the 21-week moving average, the bull market remains valid

Jinse Finance reported that Matrixport released its daily chart analysis, stating that the fifth round of the Bitcoin bull market is different from previous ones, as price fluctuations are driven by institutional investors rather than retail investors. A notable feature of this bull market is the emergence of three mini bull markets within the overall upward trend, whereas there were only two during 2020-21. A simple and effective indicator to measure the health of the trend is the 21-week moving average, which can serve as the dividing line between bull and bear markets. This level is currently at $109,899. As long as Bitcoin remains above this level, the bull market is still valid; if it falls below, it may signal that the bull market is entering a more challenging phase.