Quote from: Bitcoin_Arena on Today at 10:33:38 PM

Quote from: Darooghe on June 14, 2022, 05:06:30 AM

In my opinion, $13K is quite possible this week for Bitcoin. But whales are confuse for dumping more because they know Bitcoin has more value and it is undervalue around $13k. So more dumping means draining their bags so quickly. People are really hungry for Bitcoin in new inflationary era.

You really think it's that easy to break through the historical support and resistance levels?

How many weeks did it take to break through the $30K-$28K region?

It's also said that Bitcoin has never broken below an all-time high of the previous cycles. Now, there is always a first time for anything, but don't expect bitcoin to break through the historical level ($20K)on a first attempt. As you can see, right now it's holding.

$13K looks far away right now, but it's not impossible to reach but certainly not this week.

Yes, understanding how the market behaved breaking down to the price of $28k will make you understand $13k isn't anything near. Most of the users are in panic and the same can be used as a way by the whales, but a drop to such a bottom reaching below the previous ATH of the 2017-18 market seems to take time.

Rather than the reality of the market, majority of the user minds were filled with bearish market move. This can possibly create a negative market impact than moving on the positive side.