Bitcoin analysis for April 9, 2021
Looking at the chart on the four-hour time frame, we see that Bitcoin finds support on the bottom line of the trend along with the moving averages of the MA200 and EMA200. There is now a high probability that Bitcoin will again try to climb above $ 60,000. With the break above, we look first at the previous high at $ 61033 and then at $ 62000. The maximum target for this potential bullish impulse is $ 65888 at 127% Fibonacci level. We only need to break below the bottom trend line and MA200 and EMA200 for a more specific bearish signal for the bearish trend. The MACD indicator gives us a bullish signal for now by switching to the green zone.
Chinese application development firm Meitu is buying another $ 10 million in bitcoin to complete its cryptocurrency investment plan.
The company from the Hong Kong list previously collected 90 million dollars in BTC and ETH. Meitu bought the previous $ 90 million in Bitcoin and Ether on Coinbase, but the last $ 10 million in BTC on another stock exchange. A Chinese technology company recently announced that it had completed its plan to distribute a cryptocurrency treasury by purchasing $ 10 million worth of Bitcoin. Meitu believes that crypto is a better stock of value than fiat. Meitu, an application development company, initially set out to invest $ 100 million in cryptocurrencies and became the first Chinese company to reveal the acquisition of its digital assets publicly. The company, which is listed on the Hong Kong Stock Exchange, revealed in the application for data disclosure that its latest purchase of Bitcoin of 10 million dollars reached the limit of 100 million dollars for its plan of investing in cryptocurrencies. Meitu board members stressed that cryptocurrencies have a huge space for “value appreciation” and that investing in digital assets would be a better stock of value than fiat. Currently, the Chinese firm holds a total of 31,000 ETH and 940 BTC, fulfilling its treasury allocation plan.
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