Bitcoin and the $ 11,000 Battle – Thanks Wall Street ?!
Technical Analysis – 2 weeks after its huge red candlestick and a dip below $ 10,000, Bitcoin has returned to rub against $ 11,000. And Bitcoin was really recovering… finally?
After breaking through its resistance at $ 10,600 and blithely passing the $ 11,000 mark, Bitcoin was thrown back to $ 11,110 overnight.
BTC price in dollars (D1)
The medium and long term uptrend remains unchanged. We can, however, consider 2 short-term scenarios.
A breach of $ 11,110 and confirmation of the short-term bullish scenario. The next resistances are found at $ 11,720 and $ 12,100.
Another rejection at $ 11,110 could push the price down to test being the old resistance at $ 10,600.
MicroStrategy has 38,250 BTC
A little basic never hurts. MicroStrategy, an investment firm listed on Wall Street, recently reported having acquired 38,250 BTC for a whopping 425 million, or exactly … $ 11,111 per Bitcoin.
This is one more sign that measures the speed at which Bitcoin is financially adopted by institutions.
On September 14, 2020, MicroStrategy completed its acquisition of 16,796 additional bitcoins at an aggregate purchase price of $175 million. To date, we have purchased a total of 38,250 bitcoins at an aggregate purchase price of $425 million, inclusive of fees and expenses.
— Michael Saylor (@michael_saylor) September 15, 2020
After giving us a few cold sweats at the start of the month, Bitcoin is once again showing that it is to be counted on. And if the banks or big Wall Street players continue to get involved, maybe this is the last time we saw Bitcoin under $ 10,000?
Also, Bakkt hit a new record volume yesterday registering $200 million of trading volume in one day.