Welcome to Q4: With Massive Pump From Bitcoin.

avatar
(Edited)

Bitcoin welcomes us all to the fourth quarter (Q4) with a huge pump, as a new month gift, i wake up this morning to see Bitcoin price at $47k, I jump for joy, because September was really brutal to the market and mostly short term trader's, three huge dip's back to back is wasn't funny, but October has come to put a smile on our faces as we being the fourth quarter of the year with great moves, I know it kinda early to judge but this seems like it going to be a good month for cryptocurrency, cheers 🥂 to the new month.

image.png
Source

16hours ago i made a post about FED Chairman Powell: United States has no intention to ban Bitcoin. which I think might have contributed to the current pump in the market. Also El Salvador has officially mined its first bitcoin using volcanic energy, according to President Nayib Bukele on Twitter, this news could also have contributed to the pump.

0001_9065813216_20211001_121619_0000.png
Twitter

BTCUSDT chart analysis:
image.png
TradingView

In one of my post I made earlier this week, I pointed out the Bitcoin had found a very strong support at $41k, this level has rejected price six(6) time during the bear market. Earlier this morning the massive move we have been waiting for played out as Bitcoin broke out from both the descending channel and descending triangle to the upside which shows that the bulls a back in charge.

Also price has also broken out of the resistance levels on both $44k and $46k, like hot knife through butter and stayed above them, after few weeks of struggling with the $44k resistance level. Current Bitcoin price is at $47,388.07. Total Market Cap is now back above 2 trillion dollars.

If Bitcoin doesn't break back below the $46k, price will be heading for 50k, which is very possible because of the massive move Bitcoin made this morning, although there is a little problem of the volume not matching the pump move.

Happy New Month and Power Up Day.
Posted Using LeoFinance Beta



0
0
0.000
2 comments
avatar

Yes, so far we've had a a good start to the month of October. Let's see if the weekend will see another weekend dump or if the market will finally rally and begin its move towards the promised lands.

0
0
0.000
avatar

I agree with you on that, but I hope it continues rallying up, thanks for stopping by 😊.

0
0
0.000