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Title: Bitcoin has support at $23K, could it be worse? Post by: FMCPAY_GLOBAL on June 14, 2022, 02:43:06 AM BTC’s sell-off is easing slightly, but traders are afraid that negative newsflow and future U.S. interest rate hikes could push the price lower.
Bitcoin's (BTC) month-long choppy price action came to an end on June 13 after a deep market sell-off pressed the top cryptocurrency under the $29,000 support. The move took place as equities markets also sold off sharply, hitting their lowest levels of the year. Data from Cointelegraph Markets Pro and TradingView shows that the Bitcoin sell-off began late in the day on June 12 and escalated into midday on June 13, when BTC hit a low of $22,592. Following Whalemap, Bitcoin had broken through key realised price supports where they would likely become our new resistances that $13,331 was the ultimate max pain bottom. (Source: Cointelegraph (https://cointelegraph.com/news/bitcoin-has-support-at-23k-but-analysts-warn-of-a-dire-drop-to-8k-as-global-debt-unwinds)) Title: Re: Bitcoin has support at $23K and it could be worse Post by: bittraffic on June 14, 2022, 03:11:01 AM Following Whalemap, Bitcoin had broken through key realised price supports where they would likely become our new resistances that $13,331 was the ultimate max pain bottom. (Source: Cointelegraph (https://cointelegraph.com/news/bitcoin-has-support-at-23k-but-analysts-warn-of-a-dire-drop-to-8k-as-global-debt-unwinds)) There are still support at $17K but if it still breaks below that, this will discourages more investors already, it feel like its making them poorer in the end. Its a nonstop dumping. We are seeing RSI in the weeks chart at 26.70 as of writing which means we are already in bottomed. Well I hope so. You are scaring us at $13,331. But I think I may really be able to get 1BTC if it finally be at $13,331. Title: Re: Bitcoin has support at $23K and it could be worse Post by: ajaxtempest on June 14, 2022, 03:40:16 AM Does anyone know what is the breakeven price for bitcoin miners?
Title: Re: Bitcoin has support at $23K and it could be worse Post by: LegendaryK on June 14, 2022, 03:43:24 AM There seems to be confusion, btc already hit $21K today and almost below,
there is no support. With BTC, their are no regulated support prices verses fiat their is no government insurance, you are in the wild wild west of crypto and thinking btc can't pull a luna on you is a false belief that has no parallel in this financial reality. Does anyone know what is the breakeven price for bitcoin miners? https://cointelegraph.com/news/bitcoin-miners-can-take-fresh-20-btc-price-hit-before-capitulating-data-shows Quote Referencing the BTC production cost indicator from Charles Edwards, CEO of asset manager Capriole, venturefounder revealed that the breakeven point currently stands at $34,000. Next is where the btc miners without access to venture capitalist pockets start to declare bankruptcy within 3 months and stick the power utilities with unpaid electric bills. Title: Re: Bitcoin has support at $23K and it could be worse Post by: Leviathan.007 on June 14, 2022, 11:13:21 AM Surly, bitcoin is currently doing spin and complex price movements at this level, so that's our next support level for bitcoin where can we expect to see everything happening. this level is important because of the moving average area indicator and because of the history of the price where we saw this level showed some reactions. but still, that's not a level we can't expect to see is broken by another sharp or spike price movement, if that happens we can wait for the 20 since that's the next support level, and then 13 will be the key support level where I expect to see some buyers will place buy orders and use this situation to increase their bitcoin investments for long term.
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