To who?
Discussion
Whoever is shorting bitcoin at this level. There is no reason based on LTH levels that this makes sense as a resistance. This is active trading and they’re currently less successful than the $28k level they defended for so many months. You can tell because of the return of volatility around $38k … they won’t be able to hold these levels for long.
I guess my real question was “why do you care?”
Price matters. It does.
Not on daily timeframes. Over the course of years, that’s correct.
I used to do a lot of price watching - it’s an easy way to get burned out. It’s especially pointless because the nature of the Bitcoin market allows for price to bleed down for months before a single daily candle takes it back to highs. There’s little to gain by focusing on it.
I don’t trade. I buy BTC, HODL.
Understanding & focusing on price, not minute by minute but in the Macro, is a great learning tool.
Hashrate/price
ETF whale buying
Adoption, news cycles
Etc etc.
Daily no, but I think it would be poetic (and just) for bitcoin to reach an ATH ahead of the halving to represent the resilience of the bitcoin protocol to the coordinated manipulation of bitcoin’s price by FTX, BlockFi, Celsius, etc.
Whoever the “bad actors” were behind the scenes, I want bitcoin to make them irrelevant. As someone who has very limited dry powder left and has stacked as hard as I possibly could throughout this bear, I’m ready for NGU to humble those who think they can control bitcoin.
Bring the pain. NGU. Soon.
Every single Bitcoiner alive. That’s who.
I said “38k is real important, let’s hold this” in April of 2022.
And then we didn’t hold it, went to 16k, I stacked more Bitcoin that I ever imagined I would, and nothing changed.
Same here.
And a shit ton happens as well. FTX, ETF FUD etc.
Macro baby. Macro.
I bought much more at the $15/$16k levels. Publicly too as I showed my CashApp activity.
If you stacked more than you could imagine after it broke the level you thought was real important, it would seem it was in fact real important.
That’s actually 100% correct. I guess that’s what makes bull posts no fun - less Bitcoin when the price goes up.
I’m being a dick, I know what you mean. Every USD valuation means nothing because 1btc=100,000,000 sats but every USD valuation also does matter in so far as a “pricing mechanism”. 38k is the most important and it also means nothing because 1btc is still 1btc
