Quote from: STT on February 11, 2024, 11:22:39 PM

Quote from: piebeyb on February 11, 2024, 10:53:11 AM

But if they are not able to break above $49k it means the price will fall in the future until the halving occurs,

I agree on the pullback, 49k as a local top would be normal but I disagree on the duration of that pullback or the extent to its depth. It would be normal to pullback and we expect to see that. 49k is 61.8% of the ATH just like 43.2k was a 50% of the ATH to low, for it to be a fault line and natural sell is normal and ok. If we had not surpassed the last high this year of about 48k then I'd agree, thats a sign of weakness but the pattern to look for predicting the direction of the tide is higher lows and higher highs. So we just got a higher high and we should be more positive in that context, even if we try to predict end of Feb month I would not expect too low now. I was someone in Jan who predicted a low as possible but it was tried and failed, we resolved higher we can only estimate and observe the strength or weakness. BTC is doing ok now even if or when we get the profit taking.

Yes, I'm still paying attention to the current price of bitcoin, so I'm not too interested in betting at this time and let's try betting later, when the bet is 1 minute before it closes, I will bet there so that there is no change in betting opportunities and can calculate profits, currently the price is still below $ 48k and It has risen but has not been able to touch the price of $49k because it seems there may be a little difficulty breaking through. There could be a strong downward push when it touches that level of $49k.

I only analyze daily, weekly and even monthly charts where what I see tends to decline but it won't be too long, I would be happy to bet later rather than rushing to bet for now, I also don't expect the price of bitcoin to be too low or even nothing will appear at all. any bad news will make the price of bitcoin fall, bitcoin is doing well but you have to be wary of investors or other traders who might take advantage of the FOMO of the bitcoin halving, actually the price of bitcoin should be above $49k but it seems the market still needs time to achieve it again. Grin