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TechFlow reported, Matrixport released a report stating that since mid-December, Bitcoin has been trading in a broad consolidation range around $43,000. In mid-January, Bitcoin attempted a breakout, but was rejected in late January, causing it to return once again to the $43,000–$44,000 range.
It noted that Bitcoin is now attempting to break above the downward trend line (black). This could lead to bullish market sentiment in the coming days and weeks.
Matrixport released a report stating that since mid-December, Bitcoin has been consolidating broadly around the $43,000 level. Bitcoin attempted a breakout in mid-January but was rejected in late January, causing it to return to the $43,000/$44,000 range. The report noted that Bitcoin is now attempting to break above the downward trend line (black). This could make the market bullish in the coming days and weeks.
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