[Fun time again] Bitcoin will break the $60000 support

[abaeze]

I was going through the bitcoin chart yesterday, I expected bitcoin to bounce back when it first went below $60000 yesterday, my assumption was very right as bitcoin went back above $61000. When bitcoin wanted to get below $60000 the second time, I saw it but I was wrong that bitcoin might make the $60000 a resistance instead of support, bitcoin bounced back. But it has happened again 5 hours ago, bitcoin went less than $60000 but it bounced back which is the third time. I think the bulls are trying not to let bitcoin go below $60000 which brings us to this fun discussion. Will $60000 remain the support or it will later be the resistance?

I have been observing the charts/patterns for over a week now. So it seems to me that $60,000 will remain as support because the price of Bitcoin fell from $65,000 to $60,000. When the price was at $60,000, many people started buying. As a result, the price has now risen to $62,400 or $63,000.
However, in the current situation, BTC is now testing the patience of investors, and at this time, those who accumulate Bitcoin with a long-term investment plan will see their profits increase manifold in the future.

[EluguHcman]

I think the bulls are trying not to let bitcoin go below $60000 which brings us to this fun discussion. Will $60000 remain the support or it will later be the resistance?

But there is no bull signal yet except for the minor supports that is giving volatilities the edge not to be so weak against the resistance levels. However, we are still on the same page as the uptrend volatility despites how slow bullish is the momentum is still not given up to the resistance.

Alongside, volatility is bound to move on the trajectory whether it is the bullish or bearish season and that keep making the Bitcoin price unpredictable.

However, I think we do still have a long way to go on this bear run and so, the $60K support seems possible to be broken even if the fall will be recovered within the short time.

[ingiltere]

I think the significance of the 60k level is largely due to the fact that it roughly corresponds to the cost of mining BTC. In other words, it's highly unlikely for the price to drop below that level. And even when it does, it doesn't stay there for long. I think these price points are ideal for accumulating Bitcoin. You should buy regardless of whether the price is at 59k or 61k. There's not much difference in the long run. You'll regret it later if you don't buy at these prices.
This is not an investment advice though. I see this as an opportunity to buy more. You should make your own choices.

[minic1993]

Support and resistance are only obvious in hindsight. If buyers keep defending $60k, it stays support. If it eventually breaks and fails to reclaim it, that same level can quickly turn into resistance.

[barbara44]

It needs to get a lot cheaper before it gets a lot more expensive. That's how bitcoin has been performing for years. First they need to bankrupt most miners and weak hands, then the real holders will increase their stash size and hashpower, then we will see a ATH way beyond the last one. Possible $500k+. If you can't stomach that volatility, leave immediately. If you stay patient, you'll get rewarded handsomely.

I think that only delay things. A rise can also signals a bull though and then it also give a positive impression to the people. But if the market is bearish, people can also feel negative and it literally can scare the weak hands.

I think only the real OGs are the ones that genuinely like the dip and that they can buy more too during it. And no, miners aren't bankrupt because any market reaction has an action that is done beyond them by traders, investors, or just a casual user. For each of their transaction, it requires mining and so as the miners are earning as well. ATH won't be called like that if it can't surpass the old one but $500k is a big leap from our last time $130+k . You are so hot mate and needs to calm down for a while, hehe.

[Ishicryptic]

I was going through the bitcoin chart yesterday, I expected bitcoin to bounce back when it first went below $60000 yesterday, my assumption was very right as bitcoin went back above $61000. When bitcoin wanted to get below $60000 the second time, I saw it but I was wrong that bitcoin might make the $60000 a resistance instead of support, bitcoin bounced back. But it has happened again 5 hours ago, bitcoin went less than $60000 but it bounced back which is the third time. I think the bulls are trying not to let bitcoin go below $60000 which brings us to this fun discussion. Will $60000 remain the support or it will later be the resistance?

No $60000 will not be the support for bitcoin, I think bitcoin will break down the $60000 floor, I saw some lady predict that bitcoin may get to $15,000 but she is just another trading influencer wanting attention, for me bitcoin will not break Down as low as $15000.
$60,000 will also not be the resistance price but in all it’s all fun to those who will sell out you will later buy it at a higher price.

Bitcoin speculations should be fun not something to be taken too seriously so everyone is free to say their own predictions, a lady saying that Bitcoin will dip to $15k is ridiculous but then she is entitled to her own opinion just like any one of us but the reality is that we don't control the market. I also believe that $60k wouldn't be the support because price is resisting it and presently we are at $63k which means that bulls are pushing for the market to become bullish. For Bitcoin investors this is a good time to buy the dip before bull run will start properly and they will watch the value of their Bitcoin grow.

[michellee]

The bouncing back will continue and probably this month will be full of that so traders can use that to trade and make a profit. But no guarantee for that so they should be careful and not in rush to trade. $60,000 could be remain as the support or the resistance depend on the news or other things but the price now is above $62,000 range and the line show the sideways for a little. But the bear market comes at the market and replacing the bull run as the price now is at a low.