The Capital
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The Capital

Doubling Down: MicroStrategy Pours Another $175 Million into Bitcoin

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MicroStrategy Doubles Down on Bitcoin bet

Business intelligence firm founder and CEO Michael Saylor announced on Twitter that the company was shooting for the starts with bitcoin, adding another purchase of $175 million worth of bitcoin at an average price of around $11,100.

Technically speaking

Daily HTF still in corrective territory

After 12 days embattled with the $10,000 region, bitcoin finally managed to push through $10,500 to rise above the 20-daily EMA in what appears to be a possible reversal or corrective move at the very least.

4-hour LTF flips bullish, suggesting $11,000 retest

Pending some kind of bipolar knee-jerk reaction to a headline or some externality, price is looking quite healthy on the 4-hour chart.

  • $10,600 support / pivot point
  • $11,000 resistance
  • $10,000 support
https://chrisoncrypto.com/blog/f/planb-time-to-go-up-to-100000-per-bitcoin
https://chrisoncrypto.com

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Chris on Crypto

Journalist-turned crypto-writer & analyst; forging the narrative, stacking sats.