With the purchase announcement of MicroStrategy, Bitcoin (BTC), which reached $ 30,000, fell back to an important support level, unable to maintain its price action.
Announcing that it was buying BTC last night, MicroStrategy quickly moved the price to $ 30,000. However, at this point BTC came to a critical resistance, making selling pressure inevitable. The pioneer of cryptocurrencies, which started to pull back from $30,000, slackened to $29,100.
Although MicroStrategy, known for its Bitcoin maxilamism, experienced an increase of $ 900 in the short term, the fact that this effect was not permanent made the crypto market the same as before the news. Considering that BTC has been pricing in the news effect for a long time, ETF and Ripple developments seem to have lost their power. In addition, the short-lived flash of the MicroStrategy move reveals that the general investor is selling. How is the technical side for BTC, which is currently close to a critical support area?
Bitcoin (BTC) technical analysis
BTC, which has tested $ 29,700 several times in the past days, has not yet broken this resistance. With the resistance test, the leader of cryptocurrencies, where sellers have an even greater advantage, is currently trading at $ 29,113. Losing strength with the news in the industry losing its momentum, BTC can retreat to $ 28,406 – $ 28,039 and $ 27,467, respectively, if it cannot protect $ 28,900 as support.
If both critical and positive news such as ETF and Ripple continue, the door to $ 30,000 can be opened again. In such a scenario, the resistance levels that can be followed are 29,262 – 29.673 – 30,303 – 30,808 and 31.436 dollars, respectively. Short-term ATHs can be seen with the volume break of $31,500.
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