TechFlow reported, Matrixport stated that although Bitcoin's upward movement faces multiple resistances, its price has rebounded above the range and may be approaching a new breakout.
Market concerns over the U.S. government's potential transfer of Bitcoin—allegedly only moved to a new custodial account—caused yesterday's attempt to break through the trendline to fail.
In addition, profit-taking may have occurred ahead of this week's FOMC meeting. Regardless of the reason, this setback appears temporary, and a new breakout could be imminent.
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