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

On November 4th, Matrixport presented its daily chart analysis, stating, "When investing in Bitcoin, there isn't an absolutely effective trading rule. However, many market participants tend to focus on one metric: the 21-week moving average." As we have repeatedly mentioned in our weekly 'Matrix on Target' report across multiple cycles, the 21-week moving average has repeatedly demonstrated a certain level of reference value. Investors who keep an eye on this metric often find it easier to reevaluate their positions and risks when volatility surges. The current trend may still have the potential for further downward movement, but it isn't sufficient to indicate the end of Bitcoin's market trend. It is more like a reminder to us: instead of being completely led by short-term noise, it is better to refer to a few simple and time-tested reference points as relatively stable decision-making benchmarks.