1) Price clearly is battling with resistance at $35.6k
2) If we close below the $35.2k support level, then price can temporarily visit $34.6k support level.
3) When 2) happens, then $35.2k level has the potential to act as resistance and if price fails to rise above this level, the price will be sent down to $34k support level.
4) If the sellers panic, then the price might not even hold the $34k level and go down straight to $33.6k support.
6) We will see an army of amateur and professional analysists calling for
31K
BTC when price gets shaky around
33K
-$34K. While I hope we can see
31K
again, BTC has always found a way to surprise many.
Note: It's funny how the vast majority of posts were calling for
39K
+ targets and the continuation of bull run without any reaction to the resistance levels, but as soon as everyone sees a giant red candle they all turn into a tiny cuddly bear. You will see your $40k, $50k, $60k targets and way higher prices, but give btc some time for god sake. we have until mid 2025 to hit the top of $150k-$160k, so if you filled up your BTC bags then don't rush it, we will get there. One more thing to notice is that this market cycle smells a bit like the 2016-2017 cycle.
2) If we close below the $35.2k support level, then price can temporarily visit $34.6k support level.
3) When 2) happens, then $35.2k level has the potential to act as resistance and if price fails to rise above this level, the price will be sent down to $34k support level.
4) If the sellers panic, then the price might not even hold the $34k level and go down straight to $33.6k support.
6) We will see an army of amateur and professional analysists calling for
31K
BTC when price gets shaky around
33K
-$34K. While I hope we can see
31K
again, BTC has always found a way to surprise many. Note: It's funny how the vast majority of posts were calling for
39K
+ targets and the continuation of bull run without any reaction to the resistance levels, but as soon as everyone sees a giant red candle they all turn into a tiny cuddly bear. You will see your $40k, $50k, $60k targets and way higher prices, but give btc some time for god sake. we have until mid 2025 to hit the top of $150k-$160k, so if you filled up your BTC bags then don't rush it, we will get there. One more thing to notice is that this market cycle smells a bit like the 2016-2017 cycle.