Thursday, April 15, 2021

Donald Trump Announces Victory: What Does It Mean for Bitcoin?

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Donald Trump made a big announcement as the US presidential election was in full swing. While Trump’s announcement caused great controversy, it was also a matter of curiosity how it would affect the Bitcoin (BTC) and crypto money market. With the markets turning to the US presidential election, Donald Trump gave an assertive speech and declared victory. Trump, who has been President of the United States since 2016, has claimed the right to hold this post for another four years. In his speech to the public, Trump said, “We want the vote to end… We disgrace our country… We were preparing to win the election and frankly; and we won ”he said. BTC / USD fell to $ 13,500 after these statements.

According to analyst Jindal, after retesting the $ 13,300 support zone, the bitcoin price started a fresh increase. There was a steady rise above the $ 13,500 and $ 13,600 resistance levels. BTC even rose above $ 13,800 and moved above the 100 hourly simple moving average. On the upside, the $ 13,880 level is initial resistance. A clear break above $ 13,880 followed by a follow-up move above the $ 14,000 resistance could increase the chances of a sharp increase towards the $ 14,500 level in the coming sessions.

Memo: This is not an investment advice

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