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Bitcoin eyes big $58K resistance as new data shows hodlers acting the opposite to Q1

Published 10/08/2021, 09:25 AM
Updated 10/10/2021, 02:20 PM
© Reuters.

© Reuters.

Bitcoin (BTC) faced stiff resistance near previous highs on Oct. 8 as a fresh push over $56,000 quickly ended.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it came off four-month highs of $56,150.

BTC/USD 1-day annotated candle chart (Coinbase (NASDAQ:COIN)). Source: William Clemente/Twitter
Hodled and Lost Coins chart. Source: Glassnode/Twitter

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Latest comments

I means to "hold on for dear life" meaning to hold on to your Bitcoin or crypto investment and not sell the second it goes up a little and you make a little profit. HODLers belief the price will eventually go much higher and yield much larger returns.
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