Matrixport: Bitcoin tests key downward trend line, bull flag pattern gradually established

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MarsBit
03-26
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Mars Finance News: Matrixport's daily chart analysis on X platform states that Bitcoin is approaching a breakthrough of a key downward trend line that has been suppressing prices since market sell-offs around the time of Trump's inauguration. Currently, Bitcoin is forming a "high-level compact flag pattern", which is typically viewed as a bullish continuation formation. Bitcoin has already broken through the initial downward trend line and is now testing more important resistance levels. If successfully breaking through, it will signal a significant easing of downward risks. Combined with the dovish tone of the Federal Reserve's FOMC meeting and a increasingly favorable market environment, this change is increasingly being confirmed on the technical side.

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