In my opinion, Bitcoin price movement is still down in early 2022 trading, where bitcoin is again touching the current $46,000 level. Although bitcoin had experienced a small recovery around the level of $47,961 the last four days or to be precise entering the year 2022. Therefore, I think the correction that occurs in the price of bitcoin will at least continue until the end of January before rising again to the level of $55k.
Well before rising to $55k, remember that we need to break the next barrier of $50k first.
And that is the biggest mental barrier right now, as it seems that when we are about to break it, or at least reaches it, the price suddenly will go down as if people are cashing out very fast. And that is an indication that there are no holders for now except for few, and the majority is now speculators and trying to squeeze every profit when the price will rises even for a bit.
I do not think that it is a mental one, I feel like it is an ignored one and that's the biggest difference. If we are going to see the price go above 50k, then we should have people caring about it first. If people keep ignoring and not caring about it then how could we make a profit? If people were all trying, liquidity at high levels, volume at high levels, everyone is trading and yet we still end up losing money then I would definitely understand why people would say that there is a mental barrier there because people would be selling as soon as we moved above 50k.
However, the reality is that people do not care about the price all that much anymore, you know when they do it because you see the price rising super high, but when price is nearly stable as it is right now (been stuck at 45k to 50k for months) then you get the fact that people are not hopeful about higher prices or not expecting lower prices neither.
