Bitcoin Is Pushing Through Local Resistance – $42K Is The Most Significant Level At The Moment
Bitcoin managed to recover some of its losses, and at the moment of writing this article, BTC is trading in the green. The king coin is priced at $40,330.54.
Here’s what Scott Melker said about the price of Bitcoin and an important level of resistance.
Pushing through local resistance, 42K still up ahead, which is the most significant level on the chart for me at the moment.
Want to see some volume to kick in. pic.twitter.com/77pSx8ltAi
— The Wolf Of All Streets (@scottmelker) May 26, 2021
More important names have been dropping significant advice these days about crypto trading.
For instance, check out Changpeng Zhao’s message here: ‘If you are not a volatility trader (ie, thrive on volatility), it is better to buy then #HODL for 5 years or longer, than actively trading. So, only use money you don’t need in the next few years, and you may not need more money after that. Not financial advice.’
Bitcoin bull run is far from over
Bitcoin suffered severe changes in price, and most of them had to do with Elon Musk’s tweets, among others.
Following a harsh fall in prices for the most important digital assets, now, things seem to be picking up steam.
Elon Musk’s tweets were part of the reason for which BTC started dropping in price, and it seems that he’s the one who is pumping BTC once more.
MicroStrategy’s Michael Saylor is involved in this move as well. Check out their tweets.
Yesterday I was pleased to host a meeting between @elonmusk & the leading Bitcoin miners in North America. The miners have agreed to form the Bitcoin Mining Council to promote energy usage transparency & accelerate sustainability initiatives worldwide. https://t.co/EHgLZ9zvDK
— Michael Saylor (@michael_saylor) May 24, 2021
The bull market is definitely not over, and more important names are pointing this out via social media. Check out our previous article in order to learn more.
