Matrixport: Market Downtrend May Continue, But Not Enough to Signal Bitcoin's Trend Reversal

BlockBeats News, November 4th, Matrixport released its daily chart analysis stating, "When investing in Bitcoin, there is no absolutely effective trading rule, but many market participants tend to focus on one metric: the 21-week moving average."

As we have mentioned in our weekly 'Matrix on Target' report many times, the 21-week moving average has repeatedly demonstrated a certain level of reference value over multiple cycles.

Investors who keep an eye on this metric often find it easier to reassess their positions and risks when volatility increases. The current trend may still have the potential for further downward movement, but it is not enough to indicate the end of Bitcoin's market trend. It is more like a reminder to us: rather than being led entirely by short-term noise, it is better to refer to a few simple, time-tested reference points as relatively stable decision-making benchmarks."