On January 21, Matrixport said that the price of bitcoin has been in a gradually narrowing wedge range since mid-November last year, influenced by multiple factors, including higher-than-expected inflation data and the hawkish stance of the Federal Reserve to suppress market sentiment, as well as optimistic expectations that President Trump may establish a "strategic bitcoin reserve".
Trump's inauguration served as a catalyst for bitcoin's upward breakout, and the price of bitcoin is currently re-testing the breakout level, which is consistent with the upper boundary of the wedge. If bitcoin can hold this key support level, there is still significant upside potential in the short term, and the market's bullish expectations are further strengthened.
Matrixport: If Bitcoin can maintain its current key support level, it still has significant upside potential in the short term
2025-01-21 07:15:46
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