Matrixport indicates that Bitcoin has broken out of its downtrend 👀

On June 25, they noted that Bitcoin had reached the "possible lowest level" in the Matrixport Fear and Greed Index, a level usually associated with price rebounds. On June 26, they pointed out that Bitcoin was oversold. Over the weekend, Bitcoin broke its short-term downtrend.

While there are still obstacles to a sustained rebound, the strategy suggests that a rebound has already occurred.

Matrixport indicates that Bitcoin has broken out of its downtrend 👀

On June 25, they noted that Bitcoin had reached the "possible lowest level" in the Matrixport Fear and Greed Index, a level usually associated with price rebounds. On June 26, they pointed out that Bitcoin was oversold. Over the weekend, Bitcoin broke its short-term downtrend.

While there are still obstacles to a sustained rebound, the strategy suggests that a rebound has already occurred.

https://x.com/Matrixport_EN/status/1808048576003809678?s=19