Post
Topic
Board Speculation
Re: ₿ not going below 40.000 (probably)
by
TheUltraElite
on 05/02/2022, 11:03:12 UTC
For now, we might not see the price going below $30k, but if you look at this month, good bounce follow by a drop again, so it seems to be a a dead cat bounce. We should be at around $40k at least for now if we hold the support $38k in the last couple of days.
Today the price is around 41k and this has been an uptrend starting yesterday evening. Now this could be a new run or a small correction driving the price upward. So this prediction of yours came out to be correct, grats to you for that.

Quote
But I guess it's weak support, so stay tune this month, we might be in for a surprised.
Maybe another $32k-$33k is what I'm seeing base on the current sentiments and trading volumes.
I think the 30k and 35k support levels are strong and they are limiting the downtrend and pushing the price upwards continuously. I would not be surprised if the price comes back down but by now possibly newer levels will develop at 40k and that will keep supporting the price for now.

Current price above 40k might also give the incentive to some weak hands who bought at 38k to sell away. So we might see a lot of movement at this level before it starts moving towards 45k.