Bitcoin (BTC) showed signs of a revival on January 22 after a trip of less than $ 30,000 that yielded new copper support.
BTC price sealed 8.5% daily bounce
Data from Cointelegraph Markets and TradingView showed a stronger trading day for BTC / USD on Friday, with a daily increase of 8.5% at the time of writing.
The turnaround follows a turbulent 24 hours in which Bitcoin slipped to $ 28,950 – a key level in whale support, and only its second dip below $ 30,000 this year.
At the same time, MicroStrategy, known for its ever-increasing Bitcoin treasury, confirmed that it had bought 314 BTC to bring its total estimate to 70,784 BTC.
“Microstrategy bought just 314 more #Bitcoin for $ 10 million. @Michael_saylor bought the dip,” Twitter-based information source Documenting Bitcoin summed up, referring to the company’s CEO, Michael Saylor.
The most recent purchase averaged $ 31,808 per Bitcoin and joins the ongoing purchases of asset manager Grayscale who resist overall sales action over the past few weeks.
Whales target $ 29,000
Among other major BTC investors, interest has meanwhile focused just under $ 30,000 on the area.
According to monitoring resource Walkort, the area is important to keep in mind to prevent a further price drop on BTC / USD, one that could take the pair closer to $ 20,000.
“If we fall below $ 28,727 and consolidate there, it will give us another big drop to at least $ 23,818,” part of a series of tweets explained, along with an accompanying graphic version.
“At the moment, there are not many supports below $ 28,727, so if we start consolidating there, it will probably bring BTC to at least $ 23,818,” co-founder Artem Lazarev told Cointelegraph.
“$ 23,818 is not super strong, but it should nevertheless give BTC time to reevaluate the situation. Otherwise, $ 19,322 is super strong and a level to which big guys are likely to set their stop loss.”