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Nothing has been able to hold Bitcoin under $60,000.
I have been saying it for a long time, but now we can see just how strong of a floor it is.
Bitcoin has been respecting $60,000 as its HTF floor for 151 days.
During this time we have had:
- Iran war
- OIL spike to $120(twice)
- Equities drop
- Markets expecting rate hikes
- Saylor selling
- ETFs capitulating
And $60,000 has been defended.
The market has been saying that Saylor is the only buyer.
Well, Saylor just sold, and the ETFs have capitulated $7bn over weeks...
And the price went up yesterday.
So you bet your ass many others are buying these coins.
Bitcoin has had every reason possible to go under $60,000 and it has not happened.
When negative news like Saylor selling pumps the price...
You have to pay attention.
I cannot say for sure if the bottom is in.
But I can say that the bears have lost momentum and every single negative thing that has been thrown at Bitcoin has failed to drag it down.
What Bitcoin has endured over these 151 days, and stayed above $60,000, is insane.
Expecting it to go to the $40k's when you understand this, is misguided imo.
If price was weak, and wanted thos levels...
It would have already taken them.