CoinVoice has learned that Matrixport released today's chart stating that Bitcoin's recent decline has failed to maintain the downward trend line, which differs from our previous expectations. The current downward extent is expected to be limited, but ahead of the Fed's September interest rate meeting, market sentiment is becoming cautious, and the price may retest the support level of $112,000.
The Jackson Hole meeting is expected to lack substantial signals and is more inclined towards academic exchanges, making it difficult to influence the market. Currently, the real catalyst that the market is paying attention to is the FOMC meeting on September 17.
Technically, Bitcoin is hovering in the range of $112,000 to $117,292, providing traders with two strategies: to chase the price up when it breaks upward, or to build positions again when the price falls back to around $112,000, based on the initial situation. [Original link]
