Bitcoin Price Makes 3rd Higher-Low – Fifth Test of $45K Resistance Imminent.
The trend reversal seems to be confirmed.
Just 24 hours ago, the price of Bitcoin was still around $38K, and I told you that the moment of truth was approaching for the short-term evolution of the price of Bitcoin. Well, we have had our first answer in the last few hours with a bounce off the line marking a reversal in the trend for the price of Bitcoin.
A third Higher-Low has just been recorded as the price of Bitcoin now stands at around $42K.
What is behind this $4K increase in a few hours? Well, it was Janet Yellen's comments about the executive order that Joe Biden was to reveal about digital assets that were released a day early. This executive order has been eagerly awaited for several weeks, and it has given rise to many rumors.
The most pessimistic ones even imagined that a very strict regulation would be adopted which would even harm the innovation in this sector in America. Janet Yellen's comments, which have since been deleted, suggested that the executive order would be much more Bullish than imagined for Bitcoin. This executive order that was just unveiled by Joe Biden is designed to satisfy all parties in my opinion.
It is based on 6 key points:
Keep reading with a 7-day free trial
Subscribe to In Bitcoin We Trust Newsletter to keep reading this post and get 7 days of free access to the full post archives.