NGL. Getting tired of this price shit...
I second that!
Don't worry, it will change.
* OutOfMemory goes back hibernating
Yeah if that was the bounce I am very disapointed, Was thinking we'd at least get to the 45k handle. and be there for longer than a day.
Oh well, on-chain fundamentals are still good and futures funding rates are saying a short squeeze is more likely on the cards now.
Wouldn't be suprised if it falls below sub $40k again.
I swear i tried selling 0.1 BTC just before the dip because of resons (SOMA) when i saw it struggling to move upwards, but i was on the road, then put my daughter to sleep and the next thing i saw was the big red one on my notebook
So no +0.01 BTC for me
(this time).
I was
hating life for a short moment, i admit it.
#HODL
You seem to be trading a very tight range.. and of course, we should not be presumptive about the circumstances of anyone.
Of course, any of us who are already largely in profits, whether that is in the 43x territory or even something like 4.3x, there is a lot of liberty in terms of shaving a wee bit of bitcoin off at any point in the price cycle, even if they happen to be within pretty tight BTC price movement ranges.
I will admit that there is some boredom in having a relatively larger range that takes quite a bit more BTC price movement for the orders to be triggered - even though that has been my stated goals for the past 6 years or so... Make the ranges bigger... make the ranges Bigger, make the ranges BIGger.. make the ranges BIGGER... ...
The next goal is to try to NOT get too bored by less action, and sure the BTC price could end up shooting up or it could end up shooting down. I am inclined to think that we are due for some UP.. but I can understand that so much seemingly ongoing boredom can cause some people to do something (or to trade within this range), which largely ends up being a way for some of the BIGGER players to get a few more coins at these here prices... How many more can they get? Is it worth it to keep the price down here for so long? It can cost money to keep the price down. Is it worth the price?
I suppose the smartest thing.. upon getting bored should either be to just HODL.. and wait.. and maybe buy some more coins.. if you dare? Sure there are some folks trying to trade our current range.. which so far has been the bouncing around the bottom of the correction range... 35% to 41%... and $43k seems to be nearly in the middle of that.. 37.7%.... going down from that? What are the odds? Yes we did make it up to $44,456 which would have been in the 35.6% correction zone. Maybe we end up getting a spike down before going up? Which kind of seemed like could have been what happened a few hours ago when we spiked down to $41,782 before going up to $43,352... Sure that's enough to trade and to cover fees and even to get some decent profits if you are ready, willing and able to trade within 3.6% price moves while in the middle of our seemingly 35% to 41% correction zone.. and if you zoom out, you might wonder about whether it's worth it to try to pick up those nickels in front of that steam roller
(Greg Foss likes to use that expression)Wouldn't be suprised if it falls below sub $40k again.
IMO it doesn't matter, unless this delevops into a deeper and longer bear market. In that case, DCA investors like me will profit more. We all know 100K is a matter of when, not if, so it is better to DCA 2-3 times cheaper. I remember how bad I felt in 2018 seeing the decline from 20K to 3K. But I used the opportunity to buy as much as possible. I really doubt that this scenario will repeat this year, because of too many reasons which make the difference. One of them is that in 2018 we had several 50-100% price jumps from the local bottom. This is likely to happen this year, which means we will have "a dead cat bounce" to 80K-ish, which is a new ATH. And that will effectively mean that we are still in a bull market. This is of course, if the bottom is in the 30K-40K range, which seems to be the case, seeing how hard it is for the bears to break 40K.
There does seem to be a bit of a struggle with getting below $40k this time, and I am not going to presume that $40k cannot be broken towards the DOWNity.
Remember in late 2018, we had around 5 or 6 attempts to break below $6k before it finally broke below.
For sure, we are not in the same place as we were in late 2018 - but still some of the price dynamics of what might be feasible or possible can still play out in short-term periods.
Right now, we seem to have ongoing attempts to discourage HODLers, and if the price can stay at the lower end of the correction range for long enough, there can come period in which it could break below such current levels of the correction range.
Furthermore, I have some difficulties appreciating anything close to $80k being realistic as a current top, if we do start to resume our UPpity.
Accordingly, there could be some resistance in the $53k-$55k range, and then another level of resistance around sub-$62k, but getting above $62k likely brings us to our sub $100k resistance if any exists around the $92k levels... and there after going above $100k.. would there be much resistance around there? $120k? $150k? $180k?
I would imagine that there has to be some battle areas in the lower $100ks to try to get the BTC price back below $100k, yet sure maybe a lot of this remains presumptive because we have to first get out of our 35% to 41% correction doldrums and then get above $53k-$55k and then into the supra $62k zone that brings us up to $92k.. so surely there are no "givens" with any of this.
