Post
Topic
Board Speculation
Re: Bitcoin $40000 resistance
by
bitgolden
on 10/03/2022, 18:04:47 UTC
keep holding if you still have bitcoin in your wallet mate, because market is gradually gaining strength on this current situation despite of fluctuation. And there are already some respected key levels in the support using higher time frame which means a positive sign that there will be possibility bitcoin will bounce back in the near future, So be patient.

However if you want to buy more bitcoin , i suggest wait for more results or confirmation and never buy against the trend because it can cause losses afterwards especially when there's a fluctuation. So always remember to follow the trend when it comes buying to assure the results will be fine.
What do you think the trend is right now?

I see that we are now in a local uptrend with frequent corrections, we cannot get above 40k. Buying volumes are starting to emerge. But if we look at the global picture, we have been falling with bounces since November 2021. So it is not quite clear at what levels you are suggesting to buy.
We do keep on breaking that above 40k price constantly, but we also keep on dropping under it as well. I have been in crypto for a long time and I can tell you that anything could happen. However, if you want to know what is the most frequent thing that happens, I can tell you that it has been "drop first, then go up" in cases like these.

Whenever the price gets stuck between failing to go up to a stage and failing to go under a stage, and just keeps getting stuck. What happens is a big fall at first, and then a big increase later on. So, I am guessing if it were to be under 35k somehow in the next days of march, and then be like 45k+ or so in April, I would not be shocked.