BTC Price Holds above $19K as Buyers Recoup

Bitcoin Regains Bullish Momentum as Btc Price Holds above $19K – September 30, 2022

On September 30, Bitcoin rallied to the high of $20,181 as BTC Price holds above $19K. The upward correction has been terminated by the 21-day line SMA. Since September 14, buyers have failed to keep the price above the moving average line. Today, the BTC price is declining to the previous low.

Bitcoin Price Statistics Data:•Bitcoin price now – $19,277.32•Bitcoin market cap – $369,434,626,144•Bitcoin circulating supply – 19,166,125.00 BTC•Bitcoin total supply – $404,662,446,904•Bitcoin Coinmarketcap ranking – # 1

Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000

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Since September 21, buyers have been making concerted efforts to breach the 21-day line SMA. BTC price has rallied thrice to breach the 21-day line SMA but was repelled at the recent high. The long candlestick wicks can be seen retesting the 21-day SMA. The candlesticks are describing those regions as having strong selling pressure. On the upside, a strong price rebound will breach the 21-day line SMA or the $20,000 high. Presently, the $18,210 price level has been a strong support since June 18. Buyers have defended the current support consistently.

Microstrategy Intends to Hire Software Engineer to Create Cybersecurity Solutions

MicroStrategy, the world’s largest holder of Bitcoin is intending to hire a software engineer to create cybersecurity solutions and enable e-commerce use cases on the Lightning Network. The software engineer will be responsible for building a Lightning Network-based platform to address enterprise cybersecurity challenges and enable new e-commerce use cases. According to CEO Michael Saylor, he said the change would:“Enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business.”

Meanwhile, Bitcoin is declining as BTC Price holds above $19K. The upward move will resume if the current support holds. The $18,210 support will be retested if the selling pressure persists. BTC price has fallen to level 45 of the Relative Strength Index for period 14. It indicates a possible decline in the bearish trend zone.

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