this level currently does have some impact on the way above because it's the 38.2% retracement from the ATH at $19666 (100%) down to 2018 AYL at $3122.3 (0%). it's the biggest picture if you zoom out and should have also the most importance.
https://i.imgur.com/uSIqyf2.png(*) Bitstamp data timeframe 1w
As you all know, I know shit about TA. Is it good for us?
what I try to say is that it needs a lot more power to get through this level and then it will become a support afterwards hopefully.
EDIT: it is a big barrier on the way above just as the 50.0%, the 61.8% and the 78.6% level.
Fibonacci and the Golden Ratio