What Happens If Bitcoin BREAKS $80K

On Bitcoin

Changed since their last video: months moved down to waiting.

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• Next months (next 2–6 months): Waiting on 80k (timeframe is our reading): On the other hand, if 80k holds, it becomes the floor for the next leg and this bull trend starts looking truly glorious. ▶ 10:01

If this, then that

• If 80K is lost, then 75k (next weeks): Conversely, if 80k is lost, the third level to consider is support at 75K. ▶ 08:57
• If BTC drops into the 70ks, then no target given (next months): But if BTC does drop into the 70ks, be prepared for some prolonged chop and most likely some boredom ▶ 09:45
• If 80K holds, then no target given (next months): On the other hand, if 80k holds, it becomes the floor for the next leg and this bull trend starts looking truly glorious. ▶ 10:01

Levels named

• 87k: Resistance (the recent high Bitcoin just failed at): The second level to watch, of course, is resistance at 87K, the high Bitcoin just failed at. ▶ 08:27
• 84–85k: Resistance (heaviest cluster of long-term holder coins bought here): all while chewing through that 84k to 85K holder cluster on the way. ▶ 08:50
• 80k: Support (round number Bitcoin broke out from this quarter and where many recent buyers got in): the first is $80,000. Yes, it's a round number, and round numbers tend to carry more weight than they probably should ▶ 07:50
• 75k: Support (tested low with the 50-day moving average just above it): support at 75K. It's a real tested low with the 50-day moving average sitting just above it as reinforcement. ▶ 09:05

Their own position: Not said.

Dates named

• October Fed meeting, possible rate hike, undated: CME Fed Watch puts the odds of another hike at the October meeting at around 70%.