Bitcoin breaks $20k, now what?
Bitcoin finally broke it's all time high, but where does it go from here?
Everyone is celebrating today as bitcoin finally broke its all time highs.
This is the highest bitcoin has traded in its roughly 12 year trading history, which means everyone who has purchased bitcoin is now up on their money.
From a technical perspective we are in blue skies territory or price discovery, depending on how you label things.
Due to the price never trading up here, there is no previous history to look at in regards to potential resistance zones.
Going forward the most likely resistance zones are psychological resistance zones.
Big round numbers like $30k for example may serve as a potential resistance zone but the strength of such a zone is likely to be weak until there is some trading history established above these levels.
Which means, your guess as to where we top out is as good as mine. :)
Some possibilities exist in this post here though:
https://hive.blog/hive-167922/@jrcornel/bitcoin-now-ready-to-push-through-usd20k
The really good news?
$20k is now likely to be the new floor in bitcoin.
There is a decent chance that bitcoin never trades below $20k again. Sounds weird I know, but it's possible.
Major resistance flips to support once it is broken.
As long as bitcoin holds above $20k over the next couple days and holds as support when it eventually gets retested, it's likely to be the new floor.
A few years from now people are going to be telling you that you were lucky to buy bitcoin under $20k.
However, you and I both know that luck had nothing to do with it.
You had nerves of steel and an unwavering conviction that put up with multiple bear markets and media bashing.
Any good thing we get from here, we deserve.
Stay informed my friends.
-Doc
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We really are in a new space now with no tracks in front of us. Things can get wild from here.
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Blue Sky breakout currently underway...
"You had nerves of steel and an unwavering conviction that put up with multiple bear markets and media bashing"
LOL - we are talking about Bitcoin here - ever tried any risky investments?
I'm not losing any sleep over Bitcoin...
I'm pretty stressed about our bet though :)
What is our bet again?
You bet frot all of your bitcoin holdings against his status holdings that America would be in depression by end of Q2 next year
Or something like that...
Oh, now I am frot again, so many browsers, so many devices, so many hive accounts!
Haha yes that sounds about right! ;)
Now we probably set another ATH maybe if it reaches let's say 50k or more and begins to retrogress..
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lambo
https://twitter.com/100trillionUSD/status/1339301694673399809?s=19
Never sell!
Keeping this in mind and wondering if we've really decoupled for good.
https://twitter.com/LizAnnSonders/status/1339191881058676736?s=20
Basic rule is to never sell more than the value has increased... That way it is unlikely that the value drops hard either. There is some good sites that say when the cryptocurrency is either overbought or oversold.
Fly me to the Moon!!!!
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Bitcoin is clearly overbought but still most of the indicators suggest people should buy more... It means Bitcoin will go even higher...
Blow and hookers
moon
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hehehe, lol, you are right. We can't call that mere lucks because at that time it took a brave person to purchase it at whatsoever price it was then. That is what taking risk means.
And I might agree with you that it may not fall below 20k again.
We hope it gets ging higher
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I agree, I think that we are not likely to see a huge draw back below 20k anytime soon. It might dip for a hour or two, but I think it will rise back up above that fairly easily. I think with the corporate investors now they are going to do everything they can to have it hold a high level of support.
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