Arguably, one of the biggest headwinds Bitcoin has ever experienced is coming when Donald Trump takes office as President of the United States. The next person today After surpassing all-time highs in Monday morning’s trading frenzy, What the rest of the day might bring to Bitcoin can only be speculated.
An unprecedented trend
In early trading, Bitcoin prices jumped 10% above $109,000 on Monday. All of this happened over the course of about eight hours. Such an increase in a short period of time. This is unprecedented for Bitcoin. There are still several hours left in the day…
This incredible event may have sparked the final stage of the bull run that can only be imagined. Trump says he wants to focus on crypto And this change in fortunes for this fledgling asset may have only been a dream a few months ago.
Given the Biden administration’s steadfast and unyielding anti-crypto stance, a transfer to a welcoming and supportive Trump administration will have the effect of shaking off the shackles and giving wings to the cryptocurrency industry. Encrypt
Big buyers help create
correct according to queue US Spot Bitcoin ETFs $BTC was the fifth-highest purchase with inflows of 9.76K on Friday, equivalent to $975.60 million, up from last Wednesday’s $755.10 million inflows and Thursday’s $626.10 million.
We must remember that usually MicroStrategy The purchase will be announced on Monday. Michael Saylor has already hinted at this in his Post Graphics of purchase All MicroStrategy and the message: “Things will be different tomorrow.”
A healthy break is followed by a big wave.
Source: Trading View
The daily chart of $BTC looks great, a very nice retracement back to the downtrend line of the top of the wedge. It followed a big rally and passed the previous all-time high of $108,300 set on December 17. The new high hit $109,300, but it may not last long.
Weekly and 2-Week Stochastic RSI signals huge price momentum.
Source: Trading View
The weekly time frame shows $BTC on what could be a launch rocket. At the bottom of the chart is the Stochastic RSI and indicators show that they are likely to find support at the 50.00 level. There is evidence of an upside crossover. This can bring a lot of upward momentum to the price.
Source: Trading View
Extending further to the 2-week time frame and looking at the bottom of the chart again, the Stochastic RSI for this time frame also shows a cross of the fast blue line above the slow red line. Combined with the weekly Stochastic RSI, the results That is, the upward price momentum will be very bullish.
Things could get very exciting for the crypto space in the coming days, weeks, and months. The financial space is changing rapidly. And Bitcoin’s position as the dominant store of value may become a reality in the next few years.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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