No Resistance From $30K-$40K?

[skyroamjanetismine]

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

[1715027319]

1715027319

[1715027319]

1715027319

[exstasie]

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

Nonsense. There is no known resistance between $30K and $40K because the market has never tested those levels. It's no man's land.

That doesn't mean supply won't flood in at any given price, whether that is $31K or $36.5K, causing a significant top and mid-term correction. It just makes it fundamentally difficult to predict when and where that will happen.

According to the round numbers theory, $40K would be the next predictable resistance after $30K. I'll give him that. But where the next unpredictable resistance lies......that is less straightforward and I suspect it lies somewhere between $30K and $40K.

[OcTradism]

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

A price (price A) is only called as resistance if it is reached at least one time. After that, price will move up or down around that price and if the temp price is higher than price A, it is considered as support. If a temp price is lower than price A, it is considered as resistance.

There is no resistance higher than $29,300 that is the all time high of bitcoin 3 hours ago. Now, you can call the cap at $29,300 is a resistance.

[CryptopreneurBrainboss]

You need to stop listening to this self proclaim professional traders (youtubers), most of them have no knowledge about what they're saying but simply making video that'll interest more audiences so as to burst their revenue as a result of increased of their audiences (viewers). The hottest topic now in the industry is the potential next stop for bitcoin as it's quite certain we'll be reaching the $30k trading milestone anytime soon.

You'll begin to see different speculation pumping up, many without any TA backing but just some random dudes airing his opinion like the one you just watch. Never believe any of those and to avoid regret, resist the argue of visiting those platform to watch the video before they convince you into thinking they're making actual sense (correct predictions).

Just as OcTradism has highlighted, we can't be certain until we test those levels. Although imo there's no way their won't be a resistance form $30k to $40k.

[Reid]

Who? 
Psychological barrier huh? Well, that could also stop buyers from doing it.
I predicted last week that it won't go higher than $25k after 2020.
I was wrong. These guys analyzing Bitcoin price are also humans and they don't know how much the purchasing power is out there.
So I think we will just have to see but I doubt there will be no resistance at an expensive price.

[LimLims]

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

The someone is might just assuming.
But we still can’t say anything. According to me BTC will start crashing after it reaches 30k USD and will constantly keep the value after then in between 20k to 22k.
But this is just mine’s estimation and prediction.
The real price the market and the traders will decide.
Let’s see what happens in the future and when will the price of Bitcoin rising will stop.

[passwordnow]

It's pure speculation just like what we're speculating. It could or not happen. That's all you need to remember when you hear someone say his insights about the market. I have no idea who that youtuber is but you can give us a hint of who that man is. What everyone is aiming now is to see it half of $100k and then it will go $100k. That seems to be high but that's another speculation just like what that man is saying in his video. Just think how much you're selling and buy at low and sell in high profits.

[bekti3]

I think there will be resistance even if the bitcoin price hits $ 40,000. there are resting points where the volume cannot bear the weight. Say the current price of bitcoin is $ 40,000, then there will be a drop of up to $35,000. Wouldn't that be a possibility to touch resistance? based on the period determined when doing the analysis technique.

[RapTarX]

I don't know who you are talking about but it seems he is right. Everythings depends on traders mind. If we check back, we exepcted to hit $30 f it once hit 25; which is going to be happened and after that; another FOMO will be created which will lead the price to higher and I guess after that we will see correction/bearish season for a long time again.

[so98nn]

[..]

Nonsense. There is no known resistance between $30K and $40K because the market has never tested those levels. It's no man's land.
[...]

First of all watching someone over youtube and believing them on financial stuff is bad idea. Market research is always indeed needed.

Resistance on the other hand completely depends on state of the bitcoin which includes it's price, market cap etc. Correctly mentioned by exstasie that it's no man's land since btc never reached that value. It would turn your prediction into speculation instinct which doesnt make sense at all.

People have hard time finding the resistance for the current known value, it's almost impossible to find it for futuristic value.

[teosanru]

I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

[DarkDays]

I was watching someone on youtube. What I got was that if BTC hits $30K , there should be no resistance (I assume this means less resistance that previously) to get to $40K.

What do you think?

He was sighting how $30K is a psychology barrier. You guys probably know who I'm talking about it.

You're right! There is no barrier after 30K so if Bitcoin manages to break through the million selling orders that are now in its way to reach yet another ATH and push through 30K, then there is no reason why BTC won't continue to go further.

We just need that much more buying power, a few more pushes and we'll all be happy seeing BTC flourish to values +30K.

Come on, stop selling BTC when if you stay on you could get so much more...

[Twinkledoe]

I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

Bitcoin market most of the time doesn't follow any kind of technical analysis applied to its chart. Sometimes, it has its own trend and will not follow any kind of formula or of that sort. We will only make some conclusion once the peak is over. But right now, let's enjoy the ride to 30k and beyond...

[Hippocrypto]

I think most people don't know the concept of Pivot points. Supports and resistances are horizontal lines formulated on charts which are made by joining at least the previous two reversal points. This means there has to be some kind of trading in that area to create a pivot point in that area. Bitcoin never crossed 20K in the past which means we have no information about these points whatsoever. Any targets in such situations are taken on basis of other indicators and strategies like Elliot waves or something. The best we can have is the upward part of a trendline however the type of steep movement we have had recently I doubt even a trendline would be suffice to justify targets in such a situation.

Bitcoin market most of the time doesn't follow any kind of technical analysis applied to its chart. Sometimes, it has its own trend and will not follow any kind of formula or of that sort. We will only make some conclusion once the peak is over. But right now, let's enjoy the ride to 30k and beyond...

Normally, when peak has been reached more more conclusive ideas will about to commence. We don't know what the future really brings but continue to enjoy every opportunity given by  btc. Analysis was only our reference by the time market saturates and when monitoring it's real time frequency.

[asriloni]

Are you still believing in him? Believe me, what he was saying about there's no resistance on 30k - 40k was BS. It's only for content and he didn't know about how the market will work. The resistances will be building by those who have bought at the lower level. It doesn't mean when someone was buying bitcoin and he will not keep it forever.
It will be a different story if there's a party how will be buying bunch of bitcoin for long term. I never watched any youtube videos that created by traders. That's pure only for content.

[Emerald688]

I really don't believe the person who made the video on YouTube. me and others and many people say, that bitcoin can reach $ 100k. especially nowadays many people want to buy it and store it for a long time. my advice, just ignore the video maker, I believe the goal is to make videos for content.

[zanezane]

You need to stop listening to this self proclaim professional traders (youtubers), most of them have no knowledge about what they're saying but simply making video that'll interest more audiences so as to burst their revenue as a result of increased of their audiences (viewers). The hottest topic now in the industry is the potential next stop for bitcoin as it's quite certain we'll be reaching the $30k trading milestone anytime soon.

What OP should listen to more are financial advisors that will put your best interest as a client in the first place. Gotta agree about these Youtuber, they might look sincere but all they want is your views as an audience, have stopped binge watching them although some ideas about finances that I have learned came from these people. Does it even really matter if we hit the price? I mean it is a milestone but what is new when this happens, another celebration.

[maydna]

I really don't believe the person who made the video on YouTube. me and others and many people say, that bitcoin can reach $ 100k. especially nowadays many people want to buy it and store it for a long time. my advice, just ignore the video maker, I believe the goal is to make videos for content.

I think that could happen because I am sure that the bitcoin price will not just stop at the current price. But unfortunately, we will not know when that $100k will happen in the market because there are no right predictions. We can hope that it will happen in this year or next year, and we have much time to wait for that price. We should stay focus to make more bitcoin from now before the price jump to the high price, which can make us miss the chance to have more bitcoin.

[Jawhead999]

-snip-

What OP should listen to more are financial advisors that will put your best interest as a client in the first place. Gotta agree about these Youtuber, they might look sincere but all they want is your views as an audience, have stopped binge watching them although some ideas about finances that I have learned came from these people. Does it even really matter if we hit the price? I mean it is a milestone but what is new when this happens, another celebration.

I understand there's nothing wrong to listen their speculation from those youtubers, financial advisors, self claimed professional trader etc. But if you really excited and trust them without search and learn more with your own perspective or speculations, you're really wrong. I've see so many members have this experience, they trust them more than his words.

Just like OP asking a resistance from $30K-$40K while the simple answer is not since Bitcoin not yet reach that price, this because he's trust the self claimed professional speculators.

IMO it's really matter since Bitcoin is still fairly new and many old-investors, financial institutions, and government didn't believe in Bitcoin, but Bitcoin can go better than they thought. Also if the price hit $30K it will possible to hit $35K and so on.

[Coin_trader]

I really don't believe the person who made the video on YouTube. me and others and many people say, that bitcoin can reach $ 100k. especially nowadays many people want to buy it and store it for a long time. my advice, just ignore the video maker, I believe the goal is to make videos for content.

I think that could happen because I am sure that the bitcoin price will not just stop at the current price. But unfortunately, we will not know when that $100k will happen in the market because there are no right predictions. We can hope that it will happen in this year or next year, and we have much time to wait for that price. We should stay focus to make more bitcoin from now before the price jump to the high price, which can make us miss the chance to have more bitcoin.

I don't know if the guy you quoted really understands what OP said about the YouTube video he watch. It says that there is no known resistance at 30K level and above so the price towards 40K and Above was easy to hit as per his statement.

But in my opinion. Resistance can form in any price level as of now since the current price and above is new territory for BTC so its impossible to see new strong resistance unless it was tested multiple times.