Matrixport: Bitcoin touches the 21-week moving average, market focuses on key technical level

ChainCatcher reported that Matrixport released its daily analysis, stating that the price of bitcoin recently touched the 21-week moving average, making this technical indicator once again a key market observation point. Analyst Markus Thielen pointed out that when the price is above the 21-week moving average, it usually signals a shift from bearish to bullish sentiment in the market; while a break below may indicate the start of a correction phase. Currently, the pullback remains relatively mild, and against the backdrop of the Federal Reserve's expected continued rate cuts, the overall trend may remain manageable.

From a historical perspective, the ideal entry point often occurs when bitcoin briefly falls below this moving average and then climbs back above it, maintaining that level for an extended period. Investors should remain cautious until a clear signal emerges.