Subnostr

we're going to see a lot of these rejections in the following months I believe, #Bitcoin is long overdue for a correction

TheGrinder 1y ago

100% agree and even a pullback to 31k would be still healthy. After one of the most bullish bear markets I've ever seen in '23. We've been following this chart for an entire year and it keeps playing over and over again like a textbook.

We came up today to test the FIB for resistance and just happens that the 25M, the trendline and the RSI hit that spot and we got instantly rejected. 36k is definitely on the table followed by 31k which should show huge support and will probably take us into the halving.

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Discussion

Parham 𓃬☼₿ 1y ago

Yeah 30k revisit is healthy, although I feel like a slight shake out below it is also on the menu, much volatility could occurs just about/post halving, and of course its all speculation.

TheGrinder 1y ago

Sub 31k would surprise me as it was the high for the entire last year but yes, anything is possible. A few years ago something like the recent Binance news and their fine would have flash crashed BTC 30-50%. All we got was a 5% dip lol.

And yes, it's all game theory. I wouldn't call a price. All I see, right now, is that 40k is showing strong resistance across the board of indicators. 38k being perceived support just because it was a previous high and from there 31k because it's the 0.5 FIB (for me, on the 4h).

If that comes true has to be seen. However, imo we have to retake 40k AND establish support above it, before we can even consider a trend change.

when 10k 🥸

Never again.

🥺

Don't screenshot this to rub it in when we hit 10k! 🤣

Marcelinho 1y ago

I promise that 😂