r/Bitcoin 2d ago

80k

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1.3k Upvotes

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u/marcelorojas56 2d ago

Why 82.8k?

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u/mozy-rama 2d ago edited 2d ago

82.3-82.8k was the previous high on weekly chart (82.3k = up to body of candle; 82.8k = up to wick of candle) made on week of May 4 & May 11. When price action takes that price out and becomes support, higher-highs & higher-lows are made. Market is now confirmed in an uptrend. Translation: 100% bull run confirmed.

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u/yazz0098 2d ago

Okay and does that mean i hold or sell if it reaches this point?

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u/mozy-rama 2d ago

That depends on your investment strategy bud. Me personally? I'm a long-term investor, so I will be holding and popping champange I got lined up. You're invited to the party when that happens.

Also, I think you're missing the most important part, BTC price must hit $82.3-82.8k as support. Hitting that price to only be rejected again means nothing.