Strategy's Bitcoin Purchase Price May Set New Floor

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 2 hours ago

BTC+0.077%

FORM+3.532%

Should l Buy BTC?

Bitcoin Acquisition Volume: Strategy acquired 13,927 BTC between April 6 and April 12, raising its total holdings to 780,897 BTC with an aggregate investment of $59.02 billion, demonstrating the company's ongoing confidence in the Bitcoin market.
Average Purchase Price: The average purchase price of $75,577 per BTC may serve as a psychological support level for the market, drawing investor attention to future buying activities.
Market Psychology Impact: Given the substantial size of Strategy's treasury, market participants may view its average cost as a reference point, potentially influencing Bitcoin's price movements and creating a psychological support zone.
Continued Buying Signal: The recent acquisition indicates that management still sees value in Bitcoin, and future updates on holdings will be crucial for assessing whether they continue to accumulate more BTC.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 7 technical signals, shows that 3 indicators are flashing buy, while 4 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	59752.16	63742.085	68058.15	72048.075	76364.14	80354.065	84670.13
Fibonacci	63742.085	66914.973	68875.187	72048.075	75220.963	77181.177	80354.065

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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