Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
American businessman, entrepreneur and CEO of MicroStrategy Michael Saylor, known as a fierce supporter of Bitcoin (BTC), came to the public with a new post on the major cryptocurrency.
It is worth remarking that Saylor often erupts the public space with posts focused on Bitcoin. Sometimes they seem delusional, sometimes funny, but overall they reflect the vision Saylor has for cryptocurrency.
Tomiwabold OlajideThis time was no different, as the MicroStrategy CEO delivered a "Going Higher" comment, accompanied by an AI-generated image of him surrounded by mountains. It was very Michael Saylor-like, to say the least.
Meanwhile, the price of Bitcoin started the new week with a reddening of its quotes. After the last two weeks in which BTC gained 16%, Monday opened with the cryptocurrency down 0.41%.
Bitcoin (BTC) price outlook
Looking at the daily price chart, we can also see that Bitcoin's quotes have encountered a 200-day simple moving average at $63,950, which is a key level that serves as both strong resistance and support. That said, Michael Saylor's recent post came right in the middle of a crucial moment for Bitcoin and the crypto market in general.
If the 200 SMA is successfully breached, we could see a quick rise to $65,000 per BTC, where another strong resistance level is located. If Bitcoin fails here, it could fall to the $60,000 area, where its fate will continue to be decided by buyers and sellers.
Godfrey BenjaminSaylor's enthusiasm is understandable given that MicroStrategy holds 252,220 BTC. However, it is not clear if it is really "going higher" right now.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team