The trend now that is in place is an upwards one and I think that it is not worth Bitcoin against. We have seen shorts completely smashed from 15k to 31k, nearly doubling Bitcoin price and shorting the small Altcoin market. I think that 30k, what is happening was probably the most obvious pullback that we've so far.
30k is a nice big round number same as 25k, you are going to give to get some sort of resistance. I do think we are going to push past 31,000 and we are going to see that upside continuation. This is a good analogy of what is happening right now, 30k is that hurdle and Bitcoin was squared up to it.
If anybody's ever tried to jump a hurdle, you don't just jump the hurdle from a square on position. Usually, you have to take a few steps back or go and get a bit of a longer run-up in another ton smash and that's exactly what is happening with Bitcoin. One of the things that people ask themselves is , Why would Bitcoin do well in an uncertain macro environment?
Whenever you buy at the bottom of the market, it is always uncertain. If you had bought it when it was at its bottom and its low point and its low point, you have done quite well. This is the thing with a lot of these metrics. There are points where they become buying opportunities. You don't want to buy at the top of the market when everything is honky-tonk and great, you typically want to take advantage of the fair.
The biggest reason the vast majority of people in the market do not and will never make any money is that they fail to take a profit. They will watch their bags pump to insane high and then ride that train back down. 2023 already offered insane opportunities for making money.
A lot of risks still exist in the market, so taking a profit is not a bad idea. Some of these coins that are pumping off now are getting zero in 6 months like the meme coins. There have been some big swing moves on the top coins too, people are making a lot of money.
