The US attack on Venezuela on January 3 played into its hands Bitcoin-investors due to the rise in the price of BTC.
On January 3, US President Donald Trump announced a successful strike against Venezuela, capturing President Nicolás Maduro and his wife, Cilia Flores. Analyst Lennert Snyder predicted increased volatility in the cryptocurrency market due to rising geopolitical tensions, and he was right.
On Saturday, the BTC price surged, rising 2,39%, breaking above the 800-hour moving average and the $90,000 resistance barrier. Many experts were disappointed by the low trading volume over the weekend, but the breakout of these two key barriers is certainly a bullish signal.
Bitcoin price increase
It’s worth noting that on January 4, the BTC price approached the 23,6% Fibonacci level, taking into account the coin’s price decline from $126,091 to $80,584. Accordingly, if the bulls manage to storm this barrier, located at $91,316, and consolidate above it, Bitcoin will have a chance to rise to $98,000. Otherwise, kriptovalyuta will start to get cheaper again.
Fibonacci levels on the Bitcoin price chart