Hey, hope everyone is doing well today, back as usual and let’s just dive in!

Support

BTC dropped below the $40,000 level to start the weekend, following a three-day losing streak which has pushed price close to multi-week lows however it has managed to find it’s strong support at 38k now having boosted it back up to 40k levels alongside other major cap stocks in the market seeing green territory today.

Let’s go

Bounce As I’m writing this Bitcoin has roared from 38k this morning to it’s current point of 40k. If that in itself doesn’t tell you something I’m not too sure what will. If we take a look at the market we seeing Mega cap stocks from Microsoft to Tesla are seeing green territory today flipping from yesterdays bath of red.

Elon and Dogecoin’s Rocket As Twitter discusses Elon’s proposal to buy twitter Dogecoin has seen a major runup today of up to 23%! Most of this is based on the idea which Elon has snuck in that he may have twitter incorporate dogecoin into it’s platform if he is successful in his takeover bid. Such would provide a great opportunity for dogecoin to see some action once again following it’s fall ever since Elon’s SNL debut. Dogecoin will see some volatility in the week ahead especially considering how twitter rules will have a great impact . If we see Twitter accept Elon’s bid we will most likely see another surge in Dogecoin and more on from that point if it gets integrated into Twitter’s community in which case it would likely be used as donation tokens or to purchase subscriptions if Elon wanted to capitalize on Twitter in some potential way.

Reversal Based on just how much support Bitcoin maintains we could absolutely see move it back to the upside out of this Fib level and back on track for a happy summer’s start but right now it’s simply crucial to see how the market is feeling in general. Crypto seems to simply be flowing with the global news right now stemming from Russia’s invasion continuing, France’s reelection resulting in a win for President Emmanuel Macron which had many worried as his opponent Le Pen had in the past signified the idea of France leaving the Bloc which would crucially have changed the nature of everything going on with regards to Ukraine’s conflict and the Eu in general so that helped things as well.

Close
For the next few days we should continue to keep eyes on Bitcoin and see whether or not it can sustain or gain more positive movement to the upside without being dragged back down to those weekly lows. If we can do that I’ll be happy and looking forward to a very good summer’s start! Thank you and please keep tuned and follow for more to come! Thank you!

~ Rock