Bitcoin’s recovery picked up steam on Wednesday as the cryptocurrency rallied above $74,000 amid consistent inflows into the spot Bitcoin ETFs. Do technical charts support the move in BTC and altcoins?
Key points:
Bitcoin’s strong recovery above $74,000, backed by solid inflows into the US spot Bitcoin ETFs, suggests the formation of a short-term bottom.
Several major altcoins are attempting to take part in the recovery by rising above their overhead resistance levels.
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