Post
Topic
Board Speculation
Re: Share your opinion on the market.
by
_BlackStar
on 03/10/2023, 21:30:06 UTC
-snip-

The answer is also still changing because the $28k resistance that occurred in the last 24 hours yesterday only lasted for a moment because the closing price was $27.6k. Today's market chart experienced a difference where the indicator showed a buy signal.
But October is still very early which makes me think that there is still hope as market analysis of bitcoin prices will be in better condition than in September.
I have always been skeptical about the possibility of bitcoin being able to maintain the latest support price while breaking through resistance if the resistance is broken within 24 hours. It is too easy for people to panic and change their trading plans - as a result the price reverses and returns to previous support.

I think day trading is probably still quite profitable compared to long term investments in the short term at the moment - but when bitcoin regains its best momentum then I believe they will all FOMO.

-snip-

I support your statement that Bitcoin should be able to recover this month. As for the $28k support price being strong this month, I don't doubt that hope about the best price — at least the $30k price can break through and $30k will become the new support price.
That's just a prediction that won't be accurate without high bitcoin demand relative to selling interest - but there's still good hope considering October is only in its first week. I'll be watching to see whether we test new resistance or whether new support will be tested - but I'm still optimistic about being bullish this October.