What it takes for Bitcoin to rise

For Bitcoin to continue its upward movement, it needs to close the daily candlestick above the critical resistance area of $28.600

If the candle cannot close above the red zone specified in the analysis, the bearish target will be $ 25.250

Not Investment Advice.

Thanks for the analysis! :smiley: Hmm. :thinking: In your own prediction, when do you think will BTC go beyond $28k? :thinking:

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Right! Like what will be the catalyst I wonder!

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Hello Ria,

Bitcoin has reached the level that I mentioned in the analysis and is currently experiencing a drop from that level. I believe that if it closes below $27,500 on a daily basis, the downward trend will continue.

This is not investment advice.

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If Bitcoin is unable to break through a resistance level, it may experience a pullback or correction, as investors may take profits or sell off their holdings. Conversely, if Bitcoin is able to break through a resistance level, it may signal a shift in market sentiment and potentially lead to further upward movement.


One potential argument is that corruption in traditional financial systems can erode trust in these systems, leading people to seek out alternative means of storing value. Bitcoin, as a decentralized and transparent currency, may be seen as a more secure and trustworthy alternative to traditional financial systems that are susceptible to corruption.

Furthermore, in countries with high levels of corruption, Bitcoin and other cryptocurrencies may be seen as a way to circumvent corrupt governments and financial systems. This may lead to an increase in adoption and usage of Bitcoin in these countries, potentially driving up the price of the cryptocurrency.


Thank youuuu! :blush: I saw in a recent article that it broke through $30k.

That’s a very bold but interesting perspective. :thinking:

@CryptoVira Do you think bitcoin performs on its own right now, with no impact from what happens with eth and other alts. I know a long while back the smart guys in the room said bitcoin price drops usually meant traders were taking profit and then moving into alts. Has that been happening, or is bitcoin doing its own thing right now?

I’m amazed at how you’re able to find all these photos to end your messages! How are you doing this! :joy:

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What it takes for Bitcoin to rise?
One sure factor in my opinion would be greed. Some people know absolutely nothing about Bitcoin except that they hear other people saying if you buy it now you can make a killing.

“The League of whales” control the price. When a lots and lots of traders trade long, they reduce the price until liquidation at some point. When lots and lots of trader short, they increase the price until liquidation. The points as I’ve seen is around 1 Billion.

(Disclaimer- This is pure speculation(or is it?) just watching how market reacts and liquidation info I’ve seen from major exchangers)

Friends, calm down, Bitcoin has continued its upward movement with a candle closing above the resistance level.

If it stays above the $30K level, it will continue to rise. Otherwise, I expect a 20% drop.

This is not an investment advice.