U.Today – American businessman, entrepreneur, and CEO of MicroStrategy Michael Saylor, known for being a fervent supporter of (BTC), came out to the public with a new post about the leading cryptocurrency.
It's worth noting that Saylor often breaks into the public space with Bitcoin-focused posts. Sometimes they seem delusional, sometimes they seem funny, but overall they reflect Saylor's vision of cryptocurrencies.
This time was no different, as the MicroStrategy CEO made a “Going Higher” comment, accompanied by an AI-generated image of him surrounded by mountains. It was very Michael Saylor-esque, to say the least.
Meanwhile, Bitcoin price started the new week with a reddish tone. After the last two weeks in which BTC gained 16%, on Monday the cryptocurrency opened down 0.41%.
Bitcoin (BTC) Price Outlook
Looking at the daily price chart, we can also see that Bitcoin quotes have found 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 cryptocurrency market in general.
If the 200-day simple moving average (SMA) is successfully breached, we could see a rapid rise to $65,000 per BTC, where another strong resistance level lies. If Bitcoin fails here, it could fall to the $60,000 zone, where its fate will continue to be decided by buyers and sellers.
Saylor's enthusiasm is understandable given that MicroStrategy holds 252,220 BTC. However, it's unclear whether it's actually “going up” at the moment.
This article was originally published on U.Today
