BTC First Signs of Recovery After Months of Disappointment

According to a new poll, cryptocurrency investors are optimistic about BTC. 62.6% of voters said that the current state of BTC presents a purchase opportunity. The $19,600 resistance level for BTC has changed to a support level.

The results of a poll conducted on Twitter (NYSE: TWTR) on October 2 by cryptocurrency user @100trillionUSD indicate that investors believe now is a good time to buy Bitcoin (BTC).

The poll’s description read: “#bitcoin below the 200-week moving average ($23K) and realized price $21K. Structural rupture of a 10+ year trend or brief buying opportunity is driven by macroeconomics?”

Investors Show Support For BTC

16,671 users of Twitter had already voted. Of these voters, 62.6% indicated that now is a good time to purchase bitcoin. The remaining 34.7% voted in favor of the idea that the multi-year trend that BTC had been on for more than 10 years had structurally broken. According to the statistics provided by a service that tracks the cryptocurrency market, the market leader sells for about $19,910.67. This follows a price gain of BTC of 3.52%. Intriguingly, the cryptocurrency’s price has increased by around 1.17% during the past hour.

The daily upward movement of BTC, which has seen it turn the resistance at $19,600 into support, has been bolstered by bulls. The next objective is $20,100 now that this significant resistance level has been successfully turned.

BTC’s price is currently above the 9 EMA line and has overcome all remaining roadblocks to its journey towards the $20,100 mark. The MACD indicator is currently in the bulls’ favor since a week ago. The MACD line crossed bullishly above the MACD signal line. It is currently breaking away above the MACD signal line and has a positive slope. BTC’s price turns $19,600 Into Support Following a 3.52% Increase that first appeared on Coin Edition.