For the last seven days, Bitcoin has been accompanied by great news, and this may soon be reflected in the price.
After a week, it looks a bit better on the bitcoin market again, and what we predicted in the last analysis has really come true. The bulls guarded important support at $ 10K and bitcoin finally reached $ 11K. Although the fighting is still ongoing and the bears sent BTC below $ 11K, there is one strong factor that can cause a price increase.
These growth factors are depicted by the latest news and responses to bitcoin, of which there are more and more recently, so let’s see which of them can be the trigger for growth:
- the company has shown tremendous confidence in the bitcoin with this investment and Michael Saylor (founder) has significantly increased activity regarding BTC on his twitter (152K followers)
- another reputable investment fund recommends Bitcoin and Dan Morehead (CEO) regularly highlights BTC on his twitter (48.9K followerrs)
- traders’ activities which is increasing and Bitcoin has reached a new ATH
- Bakkt also achieved a new ATH in trading with Bitcoin Futures
- the world’s largest sovereign wealth fund has become the owner of almost 600 bitcoins thanks to its investment shares
I have learned something in the cryptocurrency market over the years and the current situation may soon cause a bitcoin rally, because when good news accumulates continuously, BTC goes to the side and also accumulates, it can only mean one direction = up.
- Important Support at $ 10K
- RSI Neutral
- Current Resistance at $ 11.3K
- Strong Resistance at $ 12K
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