Bitcoin Below 30K is Not What I Have My Eye On

in LeoFinance15 days ago

You've likely already seen a post or a crypto headline somewhere mentioning that bitcoin is below 30K today (and at the time of this writing).

However, that is really not what I have my eye on. Bitcoin poked below 30K a few times now on an intraday basis.

Closing price is what I have my eye on, and it is a price a little further down than 30K

A Close Below The Wicks....

image.png

Looking at the chart above you can see the trendline at 30K that is being breached once again. It has happened several times only to see price rally before the close of the candle.

As I write this there remains about 5 hours till this daily candle closes so anything can happen.

More importantly though, is if price if price continues to push lower and close below 28,000.

That is roughly the level where all of those intraday spikes got down too, give or take a few hundred points.

28K or lower...

This would be bearish in my point of few and mark the 23K level support as the next downside target and path to least resistance.

As for the upside, price needs to close above 30K to stay in the range it has been in for the past two months.

Right now we are just waiting to see what happens the next 48 hours in my opinion. I will be looking to buy at 23K if we do get a break down and the again at 18K if we can a big sell off.

Those will be long-term buy and holds for me and does not constitute financial advice.

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My gut feeling tells me it will break 28,000 down. I don't see the price going as low as $18,000, but $23,000 seems more than possible.

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yeah, that is my thinking.

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Omg peep, i hope not. Let it settle here and rise to new ath!!
In the mean time come check out !PIZZA, these guys work so hard to get hive on the map for the mainstream, come check it out

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Omg peep, i hope not. Let it settle here and rise to new ath!!
In the mean time come check out !PIZZA, these guys work so hard to get hive on the map for the mainstream, come check it out

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@acesontop! I sent you a slice of $PIZZA on behalf of @cooperclub.

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I just need a few more days to free up some staked holdings so I can cover any margin call.

Racing the clock! I've been there

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I could be wrong, but it seems to me we have entered a period of "slowly sliding" downwards... nothing dramatic; just a result of general... "lack of interest" that goes with low volume and weak pricing. When I look at a 3-month or 6-month chart, it seems we've been in that pattern since mid- to late May.

=^..^=

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Totally agree 🤟🤟

image.png

Well if the price does continue down and assuming the Cub price stays strong and yer in the BTC pool it means accumulating faster I guess!

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About what I've been thinking, I have $23-25k as where I think the bottom will be, but we'll see where she finds bottom at.

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Let it settle here and rise to new ATH!!
In the mean time come check out !PIZZA, these guys work so hard to get hive on the map for the mainstream, come check it out

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@cryptowingnut! I sent you a slice of $PIZZA on behalf of @cooperclub.

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15k here we go

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Omg peep, i hope not. Let it settle here and rise to new ATH!!
In the mean time come check out !PIZZA, these guys work so hard to get hive on the map for the mainstream, come check it out

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@mykos! I sent you a slice of $PIZZA on behalf of @cooperclub.

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I agree with your thoughts, I am looking at a 20k price coming too. We shall see.

Omg peep, i hope not. Let it settle here and rise to new ath!!
In the mean time come check out !PIZZA, these guys work so hard to get hive on the map for the mainstream, come check it out.

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@scaredycatguide! I sent you a slice of $PIZZA on behalf of @cooperclub.

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I think it will take a new support range between 23K and 28K as this will be the base for the next impulse, because as we saw last year the price went down but around October or September it started to go up because of the december season.

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Saw a solid bounce back today, do you think it will be short-lived?

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Interesting chart, agree it would be a longterm buy and hold below 28 and definitely 23k is a buy and hold level. Some might back up the truck at 23k and buy all they can afford, but then weep at 18k LOL
But I don’t think 18k is probable, but understand anything is possible, as when Bitcoin hit 64k most thought they would never see Bitcoin below 50k again LOL
So it’s unpredictable

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