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October 4, 2022
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Guide & Analysis

Bitcoin reaches $ 38k after Elon Musk puts Bitcoin on Twitter’s Bio

Elon Musk putting fuel on the rocket!

The world’s largest cryptocurrency saw a jump from $ 32k to as much as $ 38k, before a correction. An increase of + 15% in less than 15 minutes and then reaching + 20% when it touched the 38 thousand dollars.

The move came after the CEO of Tesla and SpaceX changed their Twitter biography to mention Bitcoin in it, right after doing an enigmatic tweet that was soon correlated with this change from Bio.


Recently, Musk has mentioned memes about Dogecoin, but this new activity shows a direct, affirmative tone and nothing like the meme.

Crypto enthusiasts closely follow the trendy guru of technological innovation and hope that Elon Musk is a big supporter of the ’cause’ Bitcoin. The battle cry is already changing “To the Moon” for “To the Mars” (from ‘to the moon’ to ‘to Mars’) where Musk’s current ambition is.

But what about the Graph?

Before Musk’s tweet, Bitcoin was already rehearsing the move back upwards by breaking the averages at H1, pointing upwards.

Graphic Analysis of Bitcoin with a dash of Elon Musk

Analysis of CointradeCx
Click on here and make your registration simply and quickly.

But confirmation of a breakout and upward trend came after the tweet. Bitcoin forcibly breaks the triangle going test the $ 38218 resistance consolidating the upward trend.

The move suggests a double bottom complete with the 38k touch and the possibility to play again to the maximum resistance zones at $ 41778.

Many speculate that BTC will reach $ 100k by the end of the year.
It is still a long number, but with the support of Elon Musk we can say that not only is it possible, but it can also break that barrier.

To the Mars.

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