Currently Bitcoin has a very strong resistance?

[ololajulo]

The panic may never come up again with the state of pandemic but the economic will continue to hunt the market for some times. we expect a quick recovery of the market as it gradually opens. We may not go beyond $5000 but I see altseason start quick after halving.

I believe that whatever speculation that we have, halving is what will determine the movement. The time we are at this moment can't just give us a good guess. The price has been shaking and not stable from 7,000 area.

there have always been speculations even in bear market and some were right. The only fear is if we dont see the response we expect from the market towards the halving we are likely to see dump after it. We might also need to consider who are those holding the big bags of bitcoin, that bought from the March dump. If people like Jack dorsey bought the dump they are longtime holder, wont sell for halving dump.

[1714921037]

1714921037

[ancafe]

maybe at the time this thread was made, the price of bitcoin was down. but, because the signal is quite good, now we see the price of bitcoin has again reached the price of $ 7700. however, this is getting closer to the price of $ 8,000. if there is a very good increase from bitcoin this month, it could be the beginning of the month may the price of bitcoin starts from $ 8000.

[sheenshane]

We're almost on $8k price, at this moment the price is $7, 762 and it showed slow resistance but at least it is continuously growing up.
I agree that psychology or behavior has a huge effect on the resistance though it can also be easily affected by the crisis that every country is experiencing right now. If you will look back when the value of bitcoins went bad drastically that was during the first few weeks of the pandemic but right now it continuously kicking up as people now are no longer in a panic state.

Everyone may think that bitcoin has a strong resistance but in reality, it is just bitcoin and cryptocurrency has a good image as a safer haven for assets. That means bitcoin can be easily affected by the crisis but can easily gain back it's a market value because of it's characteristic as a decentralized currency.

[adaseb]

Seems that things are getting more and more bullish for bitcoin at the moment.

For one, there is a premium on the CME futures but not on the Bitmex futures. Very strange to see this. But it might imply that the smart money is longing BTC at the moment. I think this will refrect in the Bitmex futures sometime in the next few days.

Another is the constant amount of Tether prints we are getting, I think we got $240,000,000 in the last 24 hours alone and in the last 30 days or so we got over a billion or so of printed Tether. Hence money is pouring into the crypto markets.

[minairia3]

maybe at the time this thread was made, the price of bitcoin was down. but, because the signal is quite good, now we see the price of bitcoin has again reached the price of $ 7700. however, this is getting closer to the price of $ 8,000. if there is a very good increase from bitcoin this month, it could be the beginning of the month may the price of bitcoin starts from $ 8000.

Strong resistance can be broken but Im more skeptical that whales are behind the sudden jump from below $7k to continue going up. I was wondering why the price become stable at $7.6k to $7.7k, though we can see how much it dragged the last time dump. It is because people believing that bitcoin halving will be worth it or be the reason of price pump? I am really confuse with the trading charts if youll ask me cause the movement is very same and almost all the possible direction on which the price head where been constant.