Bitcoin’s start to the week saw it climb above $63,000, but analysts at Bitfinex warn that the market may be facing a retrace as the week progresses.

BTC is up 5% over the past 24 hours and by 13% over the past week. These gains have come amid a confluence of factors, including German government’s BTC sell-off ending and upbeat sentiment around former U.S President Donald Trump. Bitcoin price broke above its 125-day range low around $60,200 over the weekend after reaching lows of $53,500 earlier in the week.

However, while the bounce could yet extend, analysts at Bitfinex suggest traders may have to wait for decisive moves.

Sharing their insights via this week’s issue of Bitfinex Alpha, the analysts said Bitcoin’s latest rebound above the $60k level could yet mirror previous weeks. …