Matrixport: Bitcoin's key support level breached, the market remains in a correction phase overall

CoinVoice has learned that Matrixport, in its latest chart analysis, pointed out that Bitcoin remains in a correction phase overall after breaking below a key technical level. It stated that the 21-week moving average is a core indicator for observing Bitcoin’s bullish and bearish shifts. In past market movements, this moving average has not only provided good follow-through signals during upward trends but also often issued risk warnings before sharp pullbacks, helping investors avoid significant downward volatility. Reflecting on this round of movement, Matrixport said that when Bitcoin broke below the 21-week moving average in the fourth quarter, it signaled that the market correction could deepen further. Although there was a temporary rebound in late December, the price quickly faced resistance and fell back after approaching the 21-week moving average, and it has never stabilized above that level again. Based on this judgment, the current overall structure of Bitcoin remains in a correction zone. Matrixport also pointed out that in the short term, a tactical rebound cannot be ruled out, but so far, there are no clear signals to support a new sustained upward trend.