{"id":106358,"date":"2020-11-06T16:00:00","date_gmt":"2020-11-06T13:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/"},"modified":"2020-11-06T16:00:00","modified_gmt":"2020-11-06T13:00:00","slug":"bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/","title":{"rendered":"# Bitcoin price gets closer to the last big hurdle before $20,000"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d824540625\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d824540625\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/#The_last_weekly_hurdle_before_a_new_all-time_high_is_close\" >The last weekly hurdle before a new all-time high is close<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/#Fear_and_Greed_reaching_levels_not_seen_before\" >Fear and Greed reaching levels not seen before<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/#Total_market_cap_attempting_a_breakout_continuation\" >Total market cap attempting a breakout continuation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20000\/#Key_levels_to_watch_on_the_Bitcoin_chart\" >Key levels to watch on the Bitcoin chart<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price gets closer to the last big hurdle before $20,000 <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">While the United States\u2019 election is still undecided, Bitcoin (BTC) is experiencing a major rally, as BTC price nearly reached $16,000 today, the highest level since January 2018.<\/p>\n<p>Other asset classes have also been doing well, such as Nasdaq, which saw gains of more than 7% in recent days. In the cryptocurrency markets, Ether (ETH) has started to climb as well, with ETH hitting $445.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_last_weekly_hurdle_before_a_new_all-time_high_is_close\"><\/span>The last weekly hurdle before a new all-time high is close<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/9d0ecf4c-c55d-4b0b-9752-e28af09a3705.png\"\/><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/TZjuusnP\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly chart of Bitcoin is showing the final hurdle before the new all-time high can be reached, as it\u2019s facing the resistance zone between $15,800 and 16,800. <\/p>\n<p>The probability of a breakthrough in one go is not high, given that the price of Bitcoin has already surged by more than 50% in recent weeks.<\/p>\n<p>Since the rally may now be overextended, as several indicators suggest, it\u2019s unlikely to anticipate further continuation. In other words, traders will likely be taking some quick profits after such a huge rally in a short period of time.<\/p>\n<p>Therefore, the most likely support zone based on the weekly chart is found at the $11,600\u201312,000 area. This zone has been a crucial resistance to a breakthrough in the previous years, as Bitcoin\u2019s price has been constantly rejected in this area. A support\/resistance flip in this area would be relatively healthy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fear_and_Greed_reaching_levels_not_seen_before\"><\/span>Fear and Greed reaching levels not seen before<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Fear and Greed Index is currently showing a value of 90, which is classified as extreme greed and warning traders that a correction should not come as a surprise.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/662ec7a9-2fed-4d4a-a73c-54228b74f447.png\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>Crypto Fear and Greed historical index. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\"><em>Alternative.me<\/em><\/a><\/figcaption><\/figure>\n<p>The last time this sentiment level was reached was during the summer of 2019. This rally ran from $3,200 to $13,800 and ended in a correction of more than 50% in the following months.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Total_market_cap_attempting_a_breakout_continuation\"><\/span>Total market cap attempting a breakout continuation<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/be044705-b2b7-491a-ae61-26843621ea24.png\"\/><figcaption style=\"text-align: center;\"><em>Total market capitalization cryptocurrency 1-week chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/hSXIJAih\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The total cryptocurrency market capitalization is showing a clear breakout above the recent high of $390 billion. <\/p>\n<p>This breakout looks likely to continue rallying toward $500 billion \u2014 the next resistance zone found on this chart. However, to sustain such a rally, the total market capitalization of cryptocurrencies has to hold above $390 billion, as that would potentially result in a bullish support\/resistance flip for more upside.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_levels_to_watch_on_the_Bitcoin_chart\"><\/span>Key levels to watch on the Bitcoin chart<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/97b1eed7-0167-4d07-b4f6-e3ead5d8113b.png\"\/><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/io3GLIVn\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Bitcoin\u2019s daily chart shows the BTC price <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching a higher timeframe resistance area at $16,000.<\/p>\n<p>The support levels to watch are shown on the chart. The first support area is found between $14,000\u2013$14,200, which traders should keep an eye on in the short term.<\/p>\n<p>On the daily chart, the levels between $12,800\u2013$13,100 and around $11,600 should be a trigger point for potential buy-the-dip entries in case of a correction (after failing to break above $16,000, for instance).\u00a0<\/p>\n<p>All in all, the sentiment is heavily bullish at this point, with the price at multi-year highs and only one major resistance level remaining at $16,000 before a new all-time high comes into play.\u00a0<\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl?lang=en\"><em>author<\/em><\/a><em> and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.<\/em><\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-gets-closer-to-the-last-big-hurdle-before-20-000\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price gets closer to the last big hurdle before $20,000 &#8221; While the United States\u2019 election is still undecided, Bitcoin (BTC) is experiencing a major rally, as BTC price nearly reached $16,000 today, the highest level since January 2018. Other asset classes have also been doing well, such as Nasdaq, which saw gains&#8230;<\/p>\n","protected":false},"author":1,"featured_media":106359,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/e2a2fe59-54e8-4180-9cc3-7c68ad5e93e5.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74939,73785],"class_list":["post-106358","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=106358"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/106359"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=106358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=106358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=106358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}