Post
Topic
Board Speculation
Merits 5 from 4 users
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 30/04/2024, 16:59:34 UTC
⭐ Merited by El duderino_ (2) ,Hueristic (1) ,JimboToronto (1) ,AlcoHoDL (1)
60K seems to be the next most likely support level on the weekly chart for Bitcoin/USD. I still believe that selling now is a dumb idea.
After that 48.5K - 51.6K slightly likely. And lastly, a bounce from 38K highly unlikely, yet possible.


https://www.tradingview.com/chart/BTCUSD/Up1vjifA-goldkingcoiner-s-BTC-Prediction-for-Q2/

Edit: I am setting aside some fiat for buying @54k, just in case.

edit:Excuse the lazy and inaccurate line drawing.

I am not going to proclaim to know anything with any level of confidence, but I am kind of thinking that there may well be some support in the $54k to $56k range - so I don't have any strong evidence for that, except mere feelings..

And, also we have seen $60k break a few times already, but not really get much below that.. before bouncing back above it..

So sure, this time could be different.

I remember that there were quite a few of us who had gotten quite confident that $6k was the bottom in late 2018 since it had been tested like 5 or 6 times before it finally broke, and when it ended up breaking, we got nearly a 50% extra drop out of that...

Yeah, sure this time is different.

The fact of the matter, ever single time is somewhat different, so we can really only approximate what we believe might happen.. and so I am not going to write off dropping below no man's land, until we do.. which seems to be right around $55k.. even though surely when we broke above $53k on about February 27, we surely did not spend very much time in the mid-$50k that I had considered to be the beginning of no man's land.. and also we have not revisited that $53k to $59k area.. which I am not even asserting would be any kind of necessary condition in order to resume our UPpity...

So then why should anyone (whether bears or low coiners or no coiners) be given another opportunity to buy coins in the $50ks?  I see no reason for it.. but at the same time, Corn is going to corn.. so it is not like the level of the correction and/or the extent that we might end up staying down to whatever levels that we end up going needs to make any sense.

Buddy, Buddy. Wherefore art thou Buddy?

Richie? You didn't murder our premier WO contributor did you?

Hopefully he's just been busy working on his tax return.

I sure hope he's OK.

As you seem to already seemed to have had found out (from Homer's post and your acknowledgement), I'm pretty sure that the issue with Buddy is related to talking.img.

Richy_T mentioned it here.