Matrixport: Bitcoin is approaching the $106,000 resistance level, and momentum continues to accumulate
Matrixport stated in a post that from the daily chart on March 24th, Bitcoin was attempting to break through the downtrend line near $85,712. One month later, although Bitcoin has seen some upward movement, it is currently facing new resistance levels.
If Bitcoin can break through the current resistance level, it is expected to surpass the $106,000 mark. The core factors contributing to this potential trend include: the continuous strength of the US stock market, Trump signaling looser tariffs, and the continuous inflow of stablecoin funds, which were mentioned in yesterday's report.
With the resurgence of ETF fund inflows, Bitcoin's momentum is strengthening, and the overall market structure is trending positively.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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