Because (because of the Spring Festival, the most important holiday in China and countries like Korea, Vietnam, Singapore, Indonesia, Malaysia, and Thailand), Bitcoin declines every year at this time so that all friends are careful.
Yea I think this is a pretty forced argument. I hardly doubt traders wouldn't have enough to give out during occasions due to them spending it all in trading when in fact the very first lesson to think of when trading is to only trade what you can lose. 
Topic: Who pays for these companies? What is the resistance point of Bitcoin? (Read 131 times)
February 15, 2021, 03:44:11 AM
I'd consider the $50k to be a strong resistance point, it'd either be one full breakthrough from 49 to 50 or it would wander around at 45-49 before deciding on what to do. Probably start acting once price moves to around 46 since there would probably be traders who would panic sell by then. Still, I think the market shows a stronger favor to breaking through 50, but it may take some time since after the pump of Tesla, the market has moved pretty steadily so far.
February 15, 2021, 03:04:17 AM
There is the idea that people may deliver less trade on a public holiday but also China has a tradition of money presents around now which would suggest a greater flow of capital in the young receiving that or so Im told by those who know the customs. Im not sure that has an observable effect on the market but the public holidays probably would register in some way.
In this area anyway is some resistance, its projected via previous pricing not something I do personally as I just draw a trend line and I have us only slightly below that measure maybe. Moving averages has us close to the 2 day average and just below but this is just momentum so its hard to say. We've gone sideways a few days now 45817 is the low to watch and if we confirm below on a 4hr bar its a negative progression but only short term still.
In this area anyway is some resistance, its projected via previous pricing not something I do personally as I just draw a trend line and I have us only slightly below that measure maybe. Moving averages has us close to the 2 day average and just below but this is just momentum so its hard to say. We've gone sideways a few days now 45817 is the low to watch and if we confirm below on a 4hr bar its a negative progression but only short term still.
February 15, 2021, 01:16:38 AM
Because (because of the Spring Festival, the most important holiday in China and countries like Korea, Vietnam, Singapore, Indonesia, Malaysia, and Thailand), Bitcoin declines every year at this time so that all friends are careful.
This is a false rumor that people start every year and not just for Chinese new year but for a lot of other occasions in the world that make no sense at all. The other day I even read someone say bitcoin will drop because of Valentines day 
If you look at the 12 year history of bitcoin you can clearly see that there is no conclusive proof that there is any relationship between any of these times and bitcoin price movement. Sometimes bitcoin goes up and sometimes it falls which people use the later coincidence and ignore the rest.
February 14, 2021, 11:21:09 PM
What we are talking about here is not just any people that bought bitcoin because they are alright with a 2.5x return, we are talking here about people that wants their money to multiply without the hitch of waiting for 3 years. They won't simply hodl their bitcoin or would hodl for long term but one thing is for sure and that they are going to make ways to multiply it fast. They know that a crash will damage them so they are going to do whatever it takes to get those profits as quick as possible.
You don't know what you are talking about. Those companies precisely what they do is to give stability to the market. Tesla or MS are going to hold for at least, the very least 10 years. Once they have bought, they are not going to act like retail investors. They have bought because Bitcoin is the best safe haven in the world and it has been giving an average annual return of 200% a year. The only way they could think of selling is if it gives a return significantly higher than that 200%, which is far too unlikely to happen.
February 14, 2021, 12:19:38 PM
Saying that while maintaining the 44000 and 45000 price range, there is hope for a break of the resistance point does not mean anything. We need to maintain the demand and the price will increase or stabilize most likely.
$44k-$45k were prices of a couple of days ago when OP started this topic. for some time now bitcoin price has been hovering around $47k to $49k and all these hovers although are the same but they signal a strong accumulation going on while the market gets ready for the next big step.
to me the high volume during these accumulation phases are more important than some arbitrary supports.
February 14, 2021, 05:41:43 AM
I believe these are huge companies who do not need the money that quickly, and that is the point of their situation, if they do not need the money right away, they can buy and hold and wait for it to increase as well. By logic everyone knows that bitcoin should go up in the long term, maybe it will crash to 10k tomorrow and for 5 years it will never go beyond 50k, but even in that doomsday scenario (which I think won't happen) that still says that after 5 years you are going to profit. Look at people who bought at 20k during 2017 peak, that is about 3 years before today and right now those people made 2.5x return from it.
What we are talking about here is not just any people that bought bitcoin because they are alright with a 2.5x return, we are talking here about people that wants their money to multiply without the hitch of waiting for 3 years. They won't simply hodl their bitcoin or would hodl for long term but one thing is for sure and that they are going to make ways to multiply it fast. They know that a crash will damage them so they are going to do whatever it takes to get those profits as quick as possible. 
February 14, 2021, 03:15:23 AM
Yeah, definitely expect some profit-taking at the $40-45k level.
But I think it should be pretty much guaranteed at this rate that the $50k resistance will be breached.
Market is in full FOMO, with institutional holders going strong and big-name players who have increasingly endorsed cryptos. It will be hard to see the bull market discontinue even if in the short run there may be a correction or two coming our way.
But I think it should be pretty much guaranteed at this rate that the $50k resistance will be breached.
Market is in full FOMO, with institutional holders going strong and big-name players who have increasingly endorsed cryptos. It will be hard to see the bull market discontinue even if in the short run there may be a correction or two coming our way.
I was pretty certain it'd be Friday or the weekend, especially since the last crash down to 43k didn't last a blink. But I suppose there's still a lot of reluctance to give up floors so easily from the bears, but all they're doing is delaying the inevitable (50k). To our advantage, though! The longer we keep prices in this range, the stronger the eventual floor will be when we do find it.
Lots to look forward to this month!
February 13, 2021, 02:17:39 PM
I believe these are huge companies who do not need the money that quickly, and that is the point of their situation, if they do not need the money right away, they can buy and hold and wait for it to increase as well. By logic everyone knows that bitcoin should go up in the long term, maybe it will crash to 10k tomorrow and for 5 years it will never go beyond 50k, but even in that doomsday scenario (which I think won't happen) that still says that after 5 years you are going to profit. Look at people who bought at 20k during 2017 peak, that is about 3 years before today and right now those people made 2.5x return from it.
How many people have made 2.5x return in 3 years? Many people even lost money during the same period, I think if you look at even the smartest investors in the world, people like Warren Buffett made like 10-20% returns a year, so making 2.5x is amazing.
How many people have made 2.5x return in 3 years? Many people even lost money during the same period, I think if you look at even the smartest investors in the world, people like Warren Buffett made like 10-20% returns a year, so making 2.5x is amazing.
February 13, 2021, 04:38:12 AM
As long as the price range of 44,000 and 45,000 is maintained, there is hope of breaking the resistance point, the strongest support point will be $ 40,000.
This is a personal analysis and opinion. Please act with your knowledge and analysis.
This is a personal analysis and opinion. Please act with your knowledge and analysis.
This is obvious though, but there is also a possibility that we can go as low as $40k. But to go down to that level, it has to break resistance as well. Profit taking will always be there, be average joe or even bitcoin miners. The latter will sell if they need to pay their workers or electricity while the former like us simply sell if we have something to use that money for.
So this is just basic observation. And maybe a good approach here is to just HODL, just saying. So that we won't be affected by the drop in price.
February 12, 2021, 10:24:47 AM
Ok, so spring festival is here, but the opposite happen though, we have reach all time high during this festivities and there are no short selling. So the first assumption is wrong already.
We may not see same thing happening in festival times when price will drop because investors call out investment and convert to fiat for travels to enjoy with families. Now you know covid-19 is a big barrier to travelling. The restrictions placed by government because of covid-19 will discourage people from traveling and when they stay at home, they don't go selling off there hodling and price remains the way it is or appreciate which was not the same as before during festive period. Like in China that are having new year in 14th, the government of China is restricting people from traveling. This means price may not drop to our usual expectation.
February 12, 2021, 08:02:11 AM
Ok, so spring festival is here, but the opposite happen though, we have reach all time high during this festivities and there are no short selling. So the first assumption is wrong already.
And obviously, the next resistance now is $50k, yes, it's just a number, but if you look at bitcoin's past history about resistance, breaking those whole number barriers, $20k, $30k, $40k is a sign that it could go upside. So if we break $50k in the next coming days, I'm seeing $56k as the next resistance line.
And obviously, the next resistance now is $50k, yes, it's just a number, but if you look at bitcoin's past history about resistance, breaking those whole number barriers, $20k, $30k, $40k is a sign that it could go upside. So if we break $50k in the next coming days, I'm seeing $56k as the next resistance line.
February 11, 2021, 06:21:11 PM
Yeah, definitely expect some profit-taking at the $40-45k level.
But I think it should be pretty much guaranteed at this rate that the $50k resistance will be breached.
Market is in full FOMO, with institutional holders going strong and big-name players who have increasingly endorsed cryptos. It will be hard to see the bull market discontinue even if in the short run there may be a correction or two coming our way.
But I think it should be pretty much guaranteed at this rate that the $50k resistance will be breached.
Market is in full FOMO, with institutional holders going strong and big-name players who have increasingly endorsed cryptos. It will be hard to see the bull market discontinue even if in the short run there may be a correction or two coming our way.
February 11, 2021, 12:27:17 PM
The support lines are not strong enough yet, usually when you go to a price that is high and never reached before, it means the support is not there yet and will eventually build, not like any support could keep it anywhere, obviously it will be broken if the public wants to, but making it harder to break will make it more important for people to keep trying to go higher as well.
So, we are in a situation where bitcoin could drop very easily if people sell, but harder to go up even if we keep on buying. However we should not be worried, this is going to go easier, with time if we can manage to stay here and not go down, that means price will go up and it will be harder to go down while it will be easier to go up. That is why even if we managed to stay at this price for a long period of time, that would be a great deal for us.
So, we are in a situation where bitcoin could drop very easily if people sell, but harder to go up even if we keep on buying. However we should not be worried, this is going to go easier, with time if we can manage to stay here and not go down, that means price will go up and it will be harder to go down while it will be easier to go up. That is why even if we managed to stay at this price for a long period of time, that would be a great deal for us.
February 11, 2021, 03:48:24 AM
The rising cost of bitcoin by companies is offset by the emptying of the market in the above targets, and friends, if they have noticed, always climb with such news (Tesla) and buy a step to enter ascending, and smart people make the most profit.
Because (because of the Spring Festival, the most important holiday in China and countries like Korea, Vietnam, Singapore, Indonesia, Malaysia, and Thailand), Bitcoin declines every year at this time so that all friends are careful.
When we have to sell, we buy, and when we have to buy, we are afraid (because we have not seen or gained experience in step-by-step sales training and in what lighter and more colorful places we should be present).
As long as the price range of 44,000 and 45,000 is maintained, there is hope of breaking the resistance point, the strongest support point will be $ 40,000.
This is a personal analysis and opinion. Please act with your knowledge and analysis.
Because (because of the Spring Festival, the most important holiday in China and countries like Korea, Vietnam, Singapore, Indonesia, Malaysia, and Thailand), Bitcoin declines every year at this time so that all friends are careful.
When we have to sell, we buy, and when we have to buy, we are afraid (because we have not seen or gained experience in step-by-step sales training and in what lighter and more colorful places we should be present).
As long as the price range of 44,000 and 45,000 is maintained, there is hope of breaking the resistance point, the strongest support point will be $ 40,000.
This is a personal analysis and opinion. Please act with your knowledge and analysis.
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