People talk a lot about "Seen this before", but no they haven't
What we saw in 2017 was 5x $4k to $17k,
2019 $3k to $12k 4x
In 2020 $6k to $60k 10x
So for all the talk about 'seen this before' we have not seen a parabolic 10x rise in six months
Lots of reasons for the blast-off Sep-20 was COVID, and of course stimmy-gov checks
Also the robin-hood fad brought in a lot of new traders who were told they could get rich 'playing crypto'
Easy for 0.01 to go 10x, or $1 to go to $10, difficult for $10k to go to $50k, without billionaires like Musk buying in
Who is going to buy? To bring this back up to $60k or higher? It has to be people with big cash, MUSK used his company to borrow cheap COVID cash; Is this the future? Cheap easy money to BTC?
...
The question is what is the support? All has been parabolic since sep20, about $10k, and the low in the time-frame was $6k
I'm going to guess the initial support level is $10k, which will be a test. There is no reason for a higher support level because even $20k is lofty in the heavens.
What you all say? What is the reasoning??