Bitcoin has been trading around $35.000 for days now and it was trading below the trendline gathering some volumes to break out of the trendline which was acting as the resistance.
A picture below shows its current structure after it had broke out of the trendline and it now trading above the blue horizontal blue line which was our resistance but now our support zone. It is now heading for the next stop at that black horizontal line at $48.784 which is our resistance level.
What did Tudor Jones say about Bitcoin.
As a hedge fund manager and an investor with a net worth of $8 billion whatever he utters will have an impact on the market. He said Bitcoin was a great portfolio diversifier which can protect his wealth in the long run.
So you can imagine a billionaire saying he likes bitcoin, this will automatically bring hope to small retail traders and other investors so the the price will automatically embark on a bullish train.
