Post
Topic
Board Speculation
Merits 1 from 1 user
Re: 10.000 $ still remain a strong support. Trend is not changed yet.
by
player514
on 26/01/2018, 16:40:00 UTC
⭐ Merited by RealPhotoshoper (1)
there are no 'strong support' at this moment because it's been pumped so hard,
just like what people said,
when we're at $17.000 people said that $15.000 was its support.
but it broke that level and went down a bit deeper.
it's all about people point of view.
always do your own research and never believe what people says to you without a solid evidence behind it.


This is an important point. No one really knows how much support is actually at these levels. It's pretty much impossible to know unless you go through buy orders on every exchange, and some exchanges don't even offer that information publicly.

I think the reason OP and many others believe the 10k price is a support level because it has held up in the past. Of course, that may be bad logic, but if it's happened multiple times (as in bitcoin dropping below 10k and then bouncing back up), there may be a relationship between the price and a potential support level.