Quote from: OgNasty on Today at 12:15:33 AM

Quote from: Taskford on December 14, 2023, 11:49:39 PM

Also bitcoin is also touching back again at $43k so guess we have another round to try out if bitcoin could able to reach at $50k this month.

That's a tall order in my opinion. It would have to take out a great deal of old resistance to get above $50K. I don't see it happening, but I've been wrong before with how bullish this market is. I personally think $48K is about as high as we can hope for in the near term. Maybe if an ETF does get approved in early January we'll see a candle take us up near the all time high, but to me it seems too early in the cycle for that. I would be expecting a heavy correction at that point, but maybe FTX holding down the market caused more built up buying pressure than I had assumed.

One of the interesting "happenings" right now is that we seem to be continuing to experience persistent and ongoing UPpity that largely started in mid-October from $27k, so there have been a few legs up, and then some various kinds of seeming stagnation and then continued legs up, and so far the corrections have not really gotten to any meaningful level, which is not saying that any correction might not rise to the level of significance and/or meaning at any point including now or any point between here and $55k... Sure, $50k was resistance previously, but who gives any shits about those kinds of supposed previous resistance levels..,

however, I would still be surprised if BTC prices get into supra $55k territories without any meaningful/significant correction, whether spot ETF approvals or not....even though of course spot BTC ETF approvals would add more fuel to the fire - yet at this time, these seemingly boring flat periods, in which we are getting legs up and then seeming stagnancy and repeated legs up, just seem to be ways for the buying support to keep up with the ongoing and persistent UPpity.. which also makes it more difficult to end up getting the large, significant and meaningful correction because the buy support is able to keep up.