Matrixport： Bitcoin may face downward pressure, it is recommended to wait for reverse buying signals

BlockBeats news, on January 17th, according to Matrixport's latest weekly report, Bitcoin technical indicators show that the possibility of a decline is increasing. The report points out that Bitcoin is currently attempting to maintain a price level of $90000. Although there has been a recent surge in trading volume, this is mainly due to funds flowing back from small currencies to Bitcoin, rather than new funds entering the cryptocurrency market. It is worth noting that if Bitcoin breaks through the $103000 level, the trend will turn bullish. Currently, the Greed and Fear Index is approaching a reverse buying signal, with a 30 day rolling return rate approaching -10%, which typically indicates a possible slowdown or reversal of the downtrend.