Quote from: Kadal Ijo on August 09, 2023, 03:14:56 PM

I think a bull run can occur if the price has reached $ 40k, now the big thing that must be passed by bitcoin is to be able to pass $ 30k, there was a price of $ 31k but not more than a day down again due to profit taking from investors.

The price drop that had occurred from $31K to $29K in Bitcoin is perfectly normal if it was caused by investors taking profits. But I don't think that this is the work of Bitcoin investors, because most investors usually don't like to take small profits in the near future or a short time after investing. So this is more directed at the actions of traders who always really like to take profits quickly in a short time so they choose to sell before buying back at a cheaper price.

Quote from: fzkto on August 09, 2023, 05:35:00 PM

You are probably right that bitcoin needs to break resistance and make it a support to start a new trend in the cryptocurrency market. But globally now many coins are at the bottom for a long time. It will not last long and a bull run is bound to happen.

Resistance does need to be broken by Bitcoin, but it will also be very difficult to happen if buyers are still considering buying at a lower price. Because if there are no buyers for gradually higher prices, maybe price resistance at current levels will still last until the end of this year. Although I also estimate that the range of $ 40K can indeed be reached this year.