PANews July 18 news, Matrixport released the latest investment research report indicating that Bitcoin has recently been driven by favourable information from U.S. policies, fiscal measures, and macro data, entering a new trading range. However, the current price is approaching the upper boundary, and technical indicators suggest that the market may enter a consolidation period in the next one to two months. The report mentioned that Bitcoin has steadily risen in the past 18 months, using $16,000 as a stepping stone, with $122,000 being the next reasonable target. However, after recently reaching that point, it quickly retreated, possibly building momentum for the next trend.
In addition, the technical indicators show that Bitcoin has entered the overbought zone, with the RSI breaking above 70, and multiple reversal signals indicating a pullback. If Bitcoin retraces to the range of 106,000 to 108,000 USD and holds steady, it is expected to relieve technical pressure and create conditions for subsequent upward movement. The report also mentions that the current market sentiment is somewhat heated, as the "Greed and Fear Index" has entered