We have been at around $8000 for two days already with minimal fluctuations. We have flatlined at that number.
The price of $8000 seems to be a huge barrier for Bitcoin.
What is going on? Should we expect Bitcoin to go above 8K and land on the Moon, or is there going to be a very serious and devastating dip down to $4000?
Discuss.
I don't really understand your sentiment in regards to BTC potentially dipping down to $4k.
The market sentiment has shifted to the bullish side of the spectrum, and though it is likely that a temporary dip will come sooner or later after this rally, there is no reason to assume that the previous bottom will be retested even if the $8k resistance proves to be too much, if you simply look at the change in expectations of investors from the bear market to now.
Personally, I believe that $8k will be established as support as a matter of time. We've been trading above that level for some time now and given the fear of missing out, it shouldn't be resistance for too long. The general trajectory for the long term in this current cycle is still bullish and that's all that matters.