Critical Support Could Propel Bitcoin Higher, Says Matrixport

Matrixport reports that Bitcoin’s price is retesting a critical support level, with potential for a breakout if it holds.

Since November, Bitcoin has moved within a narrowing wedge pattern, shaped by factors like inflation concerns and Federal Reserve policies. Optimism is growing over institutional support, including speculation about a strategic Bitcoin reserve under President Trump. If the support level holds, Bitcoin could see significant short-term upside, fueling bullish market sentiment.

Clever Robot News Desk 23^th January 2025