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Bitcoin (BTC) showed signs of a resurgence on January 22 after a trip below $ 30,000 produced new support for buyers.
BTC price seals 8.5% daily rebound
Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC / USD on Friday, with daily gains of 8.5% at the time of writing.
The turnaround follows a turbulent 24 hours in which Bitcoin slipped to $ 28,950 – a key level for whale support and only its second drop below $ 30,000 this year.
At the same time, MicroStrategy, well known for its ever-growing Bitcoin cash flow, confirmed that it bought 314 BTC to bring its total treasury to 70,784 BTC.
“Microstrategy just bought 314 more #Bitcoin for $ 10 million. @Michael_saylor bought the plunge,” Twitter-based information resource Documenting Bitcoin abstract, referring to the company’s CEO, Michael Saylor.
The latest buy-in came in at an average cost of $ 31,808 per Bitcoin and joins ongoing purchases from asset manager Grayscale who challenge the overall selling action over the past few weeks.
All eyes on the $ 29,000 whales
Among other big BTC investors, interest remained focused on the region at just under $ 30,000.
According to monitoring resource Whaling card, this area is crucial to hold in order to avoid a further fall in the price of BTC / USD, which could bring the pair closer to $ 20,000.
“Falling below $ 28,727 and consolidating there will give us another big drop to at least $ 23,818,” explained part of a series of tweets, accompanied by an accompanying chart.
“There isn’t a lot of support below $ 28,727 at the moment, so if we start consolidating there it will likely take BTC to at least $ 23,818,” co-founder Artem Lazarev said. at Cointelegraph.
“$ 23,818 is not very strong, but should still give BTC time to reassess the situation. Otherwise, $ 19,322 is super strong and a level where the big players are probably setting their losses.”
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