Heavy BTC resistance at $20k

[jostorres]

How are we going to actually profit from this situation if we can't break over 20k? This means there needs to be some way we can break above 20k or that's about it, we are not profiting at all. I do not really get it, like if we can't make a profit from bitcoin than what is the purpose of us trading it?

So, if price goes down and we can't go above 20k because of this huge gigantic wall, that means we are going to all lose money (except people who buy short futures) and that is going to end up affecting the market very bad. People who lose money all together leave together and when they leave it takes a while to bring them back, a lot of people left in 2018 for example and we do not want that, we should not have that, that ends up hurting the market a lot longer term.

[1714712053]

1714712053

[lepbagong]

Hopefully, Bitcoin stays at the price level you mentioned. The two days Bitcoin has fallen so fast that the Altcoins are also red. The Crypto market needs Bitcoin positive news in a few days.

your hope may also be liked by all who wish that bitcoin could hit $ 20K, but I don't see that. the possibility of going down again in bitcoin is very possible and there is no need to be surprised and panicked, because this has often been done. bitcoin will still be able to bounce back to increase in the future even in just a day.

later this year I don't see that bitcoin will ever be around $ 20K, but would love to be where it is now and keep going up and down. if next year, it is likely that bitcoin can do more.

[jaberwock]

It looks like it is going to be very difficult to break over the 20k barrier, I was hoping something much smoother and much easier but it looks like it is not going to be as easy as we assumed it would have been. We are not even getting closer anymore neither, we are doing some hard work and hope that we could break over it, but after trying few times already and failing we are just staying steady.

This doesn't mean we are going to go down, it just means that we are not going to go up for now, which is why the price has been failing to go over 20k whereas it is also not going under 17k neither, it has been stuck between 17k-20k prices for weeks now. I don't know whats going to happen, I don't know if we will be capable of breaking over 20k or going under 17k eventually because both of them are equally possible at this point.

[santiPOGI]

There is heavy BTC resistance at $20,000. Last time also, this was the level.

I think it is time to partially liquidate BTC and move the money to Cardano/Ripple/Tron etc. These coins haven't maxed out yet and still have 2-3x potential.

What's your thought?

I agree with your idea that buying and holding coins such as Ripple, TRX, Cardano because Altcoins have the high potential ... but Bitcoin is difficult to predict when it will go beyond $ 20,000? I am anxiously waiting for surprises to come in a few months.

Indeed true and correct dude, we are in the same page. Honestly, in doing such trade I always made my choice to trade altcoins like XRP, Ethereum, Ada, Vet, and more rather than Bitcoin instead I hold mostly BTC in the long term because just like what you said it too hard to predict its price if it is going to spike or not.

[eucalyptus]

People expect a massive correction. They wait $12.000 price level. And in 2017 people were trading in BTC/altcoin pair. Now we mostly trade in USDT pairs. We were trying to increase number of Bitcoins we have. But this year many people trade in Futures. Probably these kind of things have an effect upon $20k level resistance.

[CapGelatik]

People expect a massive correction. They wait $12.000 price level. And in 2017 people were trading in BTC/altcoin pair. Now we mostly trade in USDT pairs. We were trying to increase number of Bitcoins we have. But this year many people trade in Futures. Probably these kind of things have an effect upon $20k level resistance.

waiting at $ 12000? for me is a waste of time, I believe that the Bitcoin price will not be below $ 16000,
let alone touch $ 12000, don't make things complicated, just give me money, to be able to buy Bitcoin again and again

[carlfebz2]

People expect a massive correction. They wait $12.000 price level. And in 2017 people were trading in BTC/altcoin pair. Now we mostly trade in USDT pairs. We were trying to increase number of Bitcoins we have. But this year many people trade in Futures. Probably these kind of things have an effect upon $20k level resistance.

waiting at $ 12000? for me is a waste of time, I believe that the Bitcoin price will not be below $ 16000,
let alone touch $ 12000, don't make things complicated, just give me money, to be able to buy Bitcoin again and again

People would have that different thoughts on where price will potentially drop and go basing of into those charts and analysis that they had made.

We cant precisely say that the price wont really be heading in 12k price point but to look into things that we are seeing now then its hard to believe
that we would crash that hard.Lots of strong supports below where people are trying to buy out.

We are now almost touching 20k and lets see if it would able to break.

[hd49728]

If you look to the chart of bitcoin and its volume, you will discover how the bitcoin price broke strong resistances when most of people in the market thought strong resistances won't be broken.

Resistances can be released by whales when they move up their sell walls to higher price and by huge volume of people who buy up the price. The activities of buy up can be from their FOMO or from liquidations from big exchanges. Fortunately, those leverage exchanges are used as main elements of algorithm for bitcoin price equation on other exchanges. At right time for liquidations, price skyrockets and people think it is from demands but it is not actually.

It is a very common price pattern, blast off then plummet very fast.

[CapGelatik]

There is heavy BTC resistance at $20,000. Last time also, this was the level.

I think it is time to partially liquidate BTC and move the money to Cardano/Ripple/Tron etc. These coins haven't maxed out yet and still have 2-3x potential.

What's your thought?

I agree with your idea that buying and holding coins such as Ripple, TRX, Cardano because Altcoins have the high potential ... but Bitcoin is difficult to predict when it will go beyond $ 20,000? I am anxiously waiting for surprises to come in a few months.

Indeed true and correct dude, we are in the same page. Honestly, in doing such trade I always made my choice to trade altcoins like XRP, Ethereum, Ada, Vet, and more rather than Bitcoin instead I hold mostly BTC in the long term because just like what you said it too hard to predict its price if it is going to spike or not.

your steps to buy altcoins like Ethereum, Vet and XRP are very good,
and buying Bitcoin is also right, but I want to know if you buy Bitcoin at the current price ?,
if you buy at $ 19k of course it will have a level of risk.

[TradingBull.io]

There is heavy BTC resistance at $20,000. Last time also, this was the level.

I think it is time to partially liquidate BTC and move the money to Cardano/Ripple/Tron etc. These coins haven't maxed out yet and still have 2-3x potential.

What's your thought?

You should probably consider several things going on atm:

1) 4 years Market cycle post halving is kicking in (see stock-to-flow)

2) Bitcoin is the only digital asset now officially recognized as currency in the US (Institutions can buy it legally and they massively do rn, check it)

3) More and more ads for BTC are showing up, newbies buy BTC as they know nothing about others. Paypal allows its $250M user to buy it

So when lot of long holders that have been through the pain of 2017-2020 will have finish cashing out, should break through.

[Xinarae*]

Even if the price of Bitcoin falls in the market it is not possible to break its resistance. The high demand for Bitcoin raises the price and the whales cannot affect their strength. The high value of Bitcoin breaks down the wall of whales even if it hurts traders by staying in the market. While analyzing Bitcoin's charts it is not possible to determine its exact price, but the impact of the rise can be analyzed. The value of Bitcoin will increase significantly and will be much stronger for the exchange.

[Akiko]

Even if the price of Bitcoin falls in the market it is not possible to break its resistance. The high demand for Bitcoin raises the price and the whales cannot affect their strength. The high value of Bitcoin breaks down the wall of whales even if it hurts traders by staying in the market. While analyzing Bitcoin's charts it is not possible to determine its exact price, but the impact of the rise can be analyzed. The value of Bitcoin will increase significantly and will be much stronger for the exchange.

Are you sure it's impossible to break the resistance ? Every thing is possible in Bitcoin they can analyze Bitcoin price but they will never know what will be the next move of bitcoin it's always depend on the demand and supply but to claim it's impossible I think you don't understand Bitcoin movement well. You should check the market movement from the past and have an idea .

[angrynerd88]

We have come to our all time tall today and BTC hit higher first time in the history. So do you think able to beat this wall down,It appears huge, but our uptrend incorporates a much more control. With this force, ready to easily outperform $20000 in this year happened today People are paying their consideration on bitcoin whereas gold and other assets losing their esteem as of late. Crypto is considered as the finest speculation right presently. Individuals will not squander their chance, particularly organization speculators

[boyptc]

We have come to our all time tall today and BTC hit higher first time in the history. So do you think able to beat this wall down,It appears huge, but our uptrend incorporates a much more control. With this force, ready to easily outperform $20000 in this year happened today People are paying their consideration on bitcoin whereas gold and other assets losing their esteem as of late. Crypto is considered as the finest speculation right presently. Individuals will not squander their chance, particularly organization speculators

Everyone is more into holding these days. Yes, some might short and liquidate as this is the price point that they have ordered. But it makes it stronger that it's getting tougher to hold this time.

The temptation of selling at the peak is always what everyone is wanting. I'm not becoming greedier this time but I know that it can break and reach a higher price. Just a little more patience. But at least it has broken $20k.

[JooBra]

$ 20,000 resistance has been broken !, and the price of Bitcoin pumped to $ 20800 and reached a new all time high,
of course this is a good thing, but unfortunately it looks like Bitcoin will sideways first to determine whether it will increase or decrease.

I wonder what made to break that resistance... My guess it was some big guy coming in and investing since there were a lot of sell orders around 20k.

[djgtr]

$ 20,000 resistance has been broken !, and the price of Bitcoin pumped to $ 20800 and reached a new all time high,
of course this is a good thing, but unfortunately it looks like Bitcoin will sideways first to determine whether it will increase or decrease.

Don't wait for another dump, because this would be a good opportunity to ride on the waves of pumping price. If you're planning to invest right now and that money was still stagnant in your savings, think of another good alternative for bitcoin as an asset. Fluctuations of btc value tend to occur in so many scenario, so you'll have to prepare on that because someday we will harvest our fruits of labor.

[maldini]

The picture and your depiction for few days change are fascinating. I perceive how whales utilize counterfeit dividers to make frenzy and covetousness on brokers. There is a ton of possible coin and token that are as yet modest right now notwithstanding of the upswing, and without a doubt after the focal point of the speculators to bitcoin, they will go for that great altcoins and make it siphon also, so remain on the great altcoins.

[molsewid]

We have come to our all time tall today and BTC hit higher first time in the history. So do you think able to beat this wall down,It appears huge, but our uptrend incorporates a much more control. With this force, ready to easily outperform $20000 in this year happened today People are paying their consideration on bitcoin whereas gold and other assets losing their esteem as of late. Crypto is considered as the finest speculation right presently. Individuals will not squander their chance, particularly organization speculators

Yes, I have seen so many posts related to crypto now, and an instance most of them are about bitcoin and their profit because of binance future, when these posts are being saw by many people they automatically think that that is the good time to buy btc, in that case by supply and demand, many people tend to buy bitcoin because they think this is a good investment just like the other, they will buy it, and that will how the price will goes up, another thing is the tweets of famous brands like paypal.

[Bvvvp009]

Now 20k resistance became Support for the New High.

[boyptc]

Now 20k resistance became Support for the New High.

Not yet sure if $20k became the support already.

But as long as it stays above $20k for a long time, we can already conclude that we've got now higher support. The days haven't been long and yesterday was seem to be a long time already and we're already expecting another bull run even without it having the correction.

Higher low this is much desired.