Ken Chigbo
Independent Analyst
- Bitcoin is currently magnetized to the long-running trend line, which the price broke back above on 20th April.
- Renowned billionaire investor Warrant Buffet says Bitcoin is gambling not investing.
The Bitcoin price is seen nursing nominal losses on Monday, in negative territory of just over 1% at the start of the week. BTC/USD remains very much steady and within consolidation mode, pending another breakout in the near-term.
In terms of news flow, many Bitcoin investors would have been upset by the Renowned billionaire investor Warren Buffet’s recent commentary on Bitcoin. Mr Buffet said that Bitcoin is gambling and not investing.
BTC/USD is currently magnetized to the long-running ascending trend line, which has been the case since breaching back above on 20th April. It doesn’t help that just above sits a very strong supply zone, this tracks from $9,500-10,000. A break above will open some decent upside, towards the $12,000 mark, should the triple top not form, see at $11,700. Support remains firms between $8,800-9,000.
BTC/USD daily chart
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