In my last post, I said that charts are a trap that limit your thinking and make it seem like you are the king of risk management.
You can see the proof today. If you look, you will see that many people in the square are writing: Bitcoin is now testing the main support line at 60 thousand, if it falls it may go further, if it bounces it will reach 70 thousand again.
So, basically, I want to ask, how does your analysis even help if you can't predict what will happen?
In fact, you should know that during a news event, support and resistance do not necessarily have any meaning. Markets are becoming volatile.
Speaking of long-term holders, it has no impact, literally no impact. Because the effects before the halving and the effect from the halving date will not last long.
Now let's move on to their analysis: Even the analysis they show through charts is completely wrong.
How?
Because they say Bitcoin's main support is 60 thousand. Which is completely wrong. The main support for Bitcoin was 65k, ATH in 2021. And the main resistance was 74 thousand, that is, ATH in 2024. (I always round numbers to make things easier.)
Since BTC has already fallen below 65k, there is no point in saying that support is now at 60k. Because the next major support is 45 thousand, which is the ATH of January.
So if Bitcoin did fall, it would have to fall to 50 or 45 thousand. I would be more than happy if this happened as I am looking to accumulate some more BTC.
Again, during news events, no amount of support/resistance really works! Therefore, it makes no sense to think that because BTC is below support, this means that BTC will fall and fall.
My short answer to all your questions: BTC will rise. Perhaps it will reach 88k or even 100k+.
Other altcoins will be more bullish than Bitcoin. This is why I always say that if you have less than $5k to invest, it is better not to buy BTC and ETH. Choose smaller coins and eventually convert them to BTC.
