Desite Bitcoin’s strong bullish momentum in recent weeks, crypto finance firm Matrixport is sounding a cautious note. In its latest “Matrix on Target” report, the firm suggests that BTC may face a short-term correction — even as broader macroeconomic conditions remain favorable.



📉 Short-Term Correction Ahead?


Matrixport analysts note that although BTC $BTC

has climbed steadily from $16,000 over the past 18 months, several key indicators now suggest a pause or pullback may be imminent.


🔹 Support Range: $106,000–$108,000

🔹 Target Resistance: $122,000

🔹 Timeframe: Possible consolidation in the next 1–2 months


While the long-term trend remains intact, the report highlights that technical momentum is weakening, pointing toward a healthy cooling-off phase before any attempt to break above $122,000.



⚠️ RSI Signals Overbought Territory


Technically speaking, Bitcoin is showing signs of being overbought:




  • The Relative Strength Index (RSI) has climbed above 70 — often a red flag for short-term corrections.



  • Matrixport suggests that a pullback to the $106K–$108K zone could act as a springboard for the next leg up.


This correction, they argue, would be part of a healthy market cycle, rather than the end of the bull run.



🏦 Macroeconomic Winds Are Favorable — For Now


The firm also acknowledges that U.S. macroeconomic conditions remain supportive:




  • June inflation fell to 2.8%, below expectations



  • Hopes are rising for a Federal Reserve rate cut


While these developments are buoying investor sentiment, Matrixport cautions that “over-optimism” could introduce downside risk, especially if the Fed delays action.



🗓️ The July 30 FOMC meeting could bring signals, but September remains the more realistic window for an actual rate cut.



⚡ Watch for Technical Patterns: Blow-Off Tops & Double Tops?


The report concludes with a warning: rapid price spikes can lead to classic technical traps, such as:




  • Blow-off tops — sharp highs followed by rapid declines



  • Double tops — potential reversal formations that can signal trend exhaustion



🔍 Final Take


While Matrixport believes Bitcoin’s long-term bullish structure remains solid, short-term caution is warranted. A correction could set the stage for stronger gains — but only if support at $106K holds.



📢 What do you think? Will BTC pull back before pushing to $122K? Or are bulls ready to break through resistance?


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