According to BlockBeats, on July 30, Matrixport published a post on the X platform stating that although Bitcoin faces multiple resistances, its price has rebounded above the range and may usher in a new breakthrough.

Yesterday’s attempt to break above the trendline failed as the market worried that the U.S. government would move Bitcoin.

Additionally, there may have been some profit-taking ahead of this week’s FOMC meeting. Regardless of the cause, this setback appears to be temporary and a new breakout could be on the horizon.