According to U.Today, MicroStrategy CEO Michael Saylor continues to express bullish optimism despite the recent fluctuations in Bitcoin's value. Over the past 24 hours, Bitcoin's price has seen mixed movements, falling from $65,500 to $62,830 on Monday, then rebounding to $63,600 today. However, the broader trend on the daily chart is concerning, with Bitcoin registering another lower high since mid-March, which has increased anxiety following a recent lower low.
In trading terminology, a 'lower high' is when the peak price of an asset is lower than the previous high, indicating a potential downward trend. A 'lower low' signifies a new trough lower than the previous low, suggesting further declines. Despite these concerning signals, Saylor remains steadfast in his bullish stance. In his latest communication, he encourages investors to 'Run with the Bulls,' offering reassurance to those uncertain about the cryptocurrency's future prospects.
However, cautionary tones persist, reminding investors that Saylor's optimism does not guarantee stability. The fate of Bitcoin depends on the actions of buyers, with the potential for a collapse looming if their support falters. Analysts warn that if bearish sentiment prevails, Bitcoin could revisit key support levels at $61,000 and the $56,000 range, where significant liquidity is concentrated.
