Matrixport： Bitcoin is retesting to break through the wedge-shaped range, strengthening market bullish expectations

BlockBeats news, on January 21st, Matrixport released today's chart report stating that since mid November, Bitcoin trading prices have been in a gradually narrowing wedge-shaped range. This trend is influenced by multiple factors: on the one hand, higher than expected inflation data and the hawkish stance of the Federal Reserve have suppressed market sentiment; On the other hand, the market's optimistic expectation that President Trump may establish a "strategic Bitcoin reserve" has provided support for the price, avoiding a larger pullback. The sideways oscillation in the wedge-shaped range continued until Trump's inauguration ceremony, which became a catalyst for Bitcoin's upward breakthrough and released a strong bullish signal. Currently, Bitcoin is retesting its breakthrough level, which coincides with the upper boundary of the wedge. If Bitcoin can maintain this key support level, it still has significant upward potential in the short term, and breaking through further strengthens the market's bullish expectations.