Positive sentiment has recently been supportive and has had a huge impact on Bitcoin, yet the market is seen to continue to witness a positive price contagion coming to the attention of investors.
The weekly trading session was in a cautious position after Bitcoin experienced a significant decline a few days ago, slipping to below the level of around $ 30,000.
Rumors of current market sentiment became hot after Elon Musk revealed to the public that SpaceX also owns Bitcoin.
Did SpaceX cause BTC to rise again after touching support levels?
Elon Musk noted that Tesla will start accepting Bitcoin again, where payments could be fairly restored soon and the Bitcoin mining industry is moving more toward reform.
Interesting if you look at the current movement chart of the BTC/USDT price.
The BTC price movement continued to see a drastic jump of over 11% since yesterday hitting the highest level on today’s movement around $ 32,858.
From a technical point of view, the BTC price movement is seen hovering below the SBR zone (support become resistance) around $ 33,000 either to make a correction or continue to rise higher.
Crypto analysts expect that if the price movement continues to see a Bullish trend, the SBR zone around $ 33,000 will be tested first before continuing higher.
However, if the price movement returns to see a bearish trend, the price movement will retest the support level around $ 30,000 before making a decline to the lowest level ever recorded before.
At the time of writing, BTC/USDT is trading at around $ 32,200 up over 4% in the last 24 hours.
