Bitcoin Price Forecast After Elon Musk Denies Crypto Discussions with Donald Trump – What Lies Ahead for BTC?
Elon Musk’s recent tweet debunking any talks about cryptocurrencies with former U.S. President Donald Trump has sparked interest in the market outlook for Bitcoin.
In his tweet, Musk stated that he has never discussed crypto with Trump. However, he expressed his general support for the concept of decentralized financial systems, which have the potential to shift power from the government to the people.
This clarification from Musk comes amidst speculation about their conversations during a breakfast meeting in Florida, where it is reported that Trump dominated the discussion.
Despite Musk’s denial, there have been reports that Trump is focusing on Bitcoin and other digital assets as part of his campaign to attract new voters. There have even been discussions about inviting Musk to speak at the Republican convention, although no final decision has been made.
While Musk has clarified that he has not discussed crypto with Trump, his support for decentralization remains strong. This reflects his belief in the power of digital assets to empower individuals.
Moving on to the Bitcoin price prediction, on the technical front, BTC/USD has found immediate support around the $67,885 level. The Relative Strength Index (RSI) suggests the potential for further upward movement, as it is consolidating around 50.
The key level to watch for market direction is the pivot point at $68,232. Resistance levels are at $68,862, $69,548, and $70,620, while support levels can be found at $67,107, $66,380, and $65,428.
Technical indicators indicate that a bullish breakout above $68,862 could lead to further gains towards $70,620. On the other hand, a break below $67,885 might expose BTC to further downside risks, targeting $67,107 or even lower towards $66,380 and $65,428.
In conclusion, the outlook for Bitcoin remains cautiously bullish above the pivot point of $68,232. Traders should closely monitor the resistance and support levels mentioned above for potential market movements.
In other news, a new AI meme coin called Wiener AI (WAI) has gained significant attention in the market. This coin offers advanced AI-powered trading tools, making it more than just a novelty. With investors already showing strong interest in the coin’s presale, there is potential for significant gains in the future.
Investors can also earn passive income through staking rewards, with a remarkable 396% APY according to the project’s official website. Experts are already ranking WAI as a top crypto for 2024, further fueling interest in the coin.
Interested investors should act quickly as the price of WAI is expected to increase once the presale reaches $3 million. Currently priced at $0.00071, WAI has a market cap of under $50 million. Early investors could potentially see substantial returns if WAI achieves market leadership.
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