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During an afternoon speech at the University of Chicago School of Business, Federal Reserve Vice Chair Lael Brainard said that the central bank needs to remain dedicated to making monetary policy more restrictive"to make sure inflation returns to 2% on a sustained basis." Data from TradingView shows that Bitcoin steadily crept higher throughout the day, climbing from a low of $20,408 recorded late on Wednesday night to hit a daily high of $21,207 in the afternoon on Thursday despite ongoing concerns surrounding the possible bankruptcy of Genesis Global Capital.The sideways price action for Bitcoin over the past several days was called “a normal pause after hitting a four-month high Tuesday” by Kitco senior technical analyst Jim Wyckoff.
The perspective that Bitcoin is due for more upside was shared by blockchain analyst Milky Bull Crypto, who posted the following tweet predicting that BTC will soon climb to $28,000.One of the principle of S&D states that a valid S/D zone will have a swift rejection and pull back to it for a confirmation.Anticipating 👀 pic.twitter.com/9V3AvhViuS