Bitcoin Sits below 0.618 on the fib chart there is a good chance that it will break this level then retest again before moving towards 86k then 90k.
Observation : this could be over the next few weeks due to the Tariffs/Inflation coming out of the USA with a combination of unrest around the world. Meaning that investors are seeking safe haven until there is confidence to reinvest in the Bitcoin.
Conclusion: its better to take long shorts /also short shorts were available towards support and Resistance Levels as it appears Bitcoin is ranging between Levels until the Markets settles from all the Volatility .
Disclaimer: In no way is this Financial advice for trading. trading is a RISK individuals and are at all times responsible any and all trades they engage in.
Observation : this could be over the next few weeks due to the Tariffs/Inflation coming out of the USA with a combination of unrest around the world. Meaning that investors are seeking safe haven until there is confidence to reinvest in the Bitcoin.
Conclusion: its better to take long shorts /also short shorts were available towards support and Resistance Levels as it appears Bitcoin is ranging between Levels until the Markets settles from all the Volatility .
Disclaimer: In no way is this Financial advice for trading. trading is a RISK individuals and are at all times responsible any and all trades they engage in.
Trade active
Bitcoin has tested the 0.618 could this be the move to 90k News dependent it looks good so far could a weekend move by Sunday should be a clear move waiting on a bullish News Event.Trade closed: target reached
target hit 88,451Note
Japanese investment firm Metaplanet announced today that it has purchased an additional 330 BTC, worth $28.2 million. This is the company's third bitcoin purchase this month, despite market uncertainties driven by U.S. tariff measures.The company said it made the purchase at an average price of 12.18 million Japanese yen, or $85,605 per bitcoin.
The latest purchase coincides with bitcoin's first rally above $87,000 since April 2. The world's largest cryptocurrency is up 2.5% in the past 24 hours, trading at $87,279 as of publication time.
Metaplanet took on its bitcoin accumulation strategy in April 2024, and continued to make purchases, even during the recent market downturn triggered by U.S. tariff announcements. In April, the company acquired 809 BTC, keeping it on track to reach its year-end target of 10,000 BTC.
Metaplanet now holds a total of 4,855 BTC with an overall average purchase price of $89,928, which makes it the largest corporate bitcoin holder in Asia and tenth globally.
Meanwhile, Michael Saylor's Strategy, a guiding force in bitcoin accumulation for companies like Metaplanet, announced its purchase of 3,459 BTC last week, increasing its total holdings to 531,644 BTC.
Saylor expressed confidence in his posts on social media platform X, suggesting that tariffs will not have an impact on the company's bitcoin purchase. Strategy posted unrealized losses on its bitcoin holdings worth $5.91 billion in the first quarter of this year.
Metaplanet's stock on the Tokyo Stock Exchange was up 0.85% as of 1:13 p.m. local time, according to Yahoo Finance data. It is currently trading in the afternoon session. The shares have jumped 1,086% in price in the past year since the company adopted the bitcoin strategy.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.