{"id":106772,"date":"2020-11-07T01:22:42","date_gmt":"2020-11-06T22:22:42","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bull-flag-breakout-will-decide-whether-bitcoin-price-goes-to-16k-or-14k\/"},"modified":"2020-11-07T01:22:42","modified_gmt":"2020-11-06T22:22:42","slug":"bull-flag-breakout-will-decide-whether-bitcoin-price-goes-to-16k-or-14k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bull-flag-breakout-will-decide-whether-bitcoin-price-goes-to-16k-or-14k\/","title":{"rendered":"# Bull flag breakout will decide whether Bitcoin price goes to $16K or $14K"},"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-6a3f97a79b8c3\" 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-6a3f97a79b8c3\" 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\/bull-flag-breakout-will-decide-whether-bitcoin-price-goes-to-16k-or-14k\/#Altcoins_finally_find_their_way\" >Altcoins finally find their way<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bull flag breakout will decide whether Bitcoin price goes to $16K or $14K  <\/strong>&#8221;<\/p>\n<div data-v-5a136f3a=\"\">Bitcoin price (BTC) <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>ears to be taking a short breather after reaching a new 2020 high at $15,960 on Nov. 5. <\/p>\n<p>The 1-hour and 4-hour timeframe show the price compressing within a flag and throughout the majority of the trading day, the $15,500 level has held as support. $15,750 is the level Bitcoin needs to break in order to pursue another stab at $16,000.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/659c459f-d6aa-4298-8375-8db4a735cf24.png\"\/><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hr chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/?exchange=BINANCE\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Within the last hour, a dragonfly doji candle formed as the price swept low to test the lower support of the bull flag at $15,166, and as the formation approaches its terminus traders will look for a breakout which will push through the $15,500 to $15,600 level where a high volume VPVR node lurks. <\/p>\n<p>Clearly, there is a small tussle taking place between bulls and bears, and flipping the $15,600 level to support with a 4-hour close will increase the possibility that BTC will make a third run at the $16,000 mark. <\/p>\n<p>The RSI also continues to rise above 70, a bullish signal, but daily purchasing volume has tapered off a bit after some traders secured profits as BTC surged to $15,900.<\/p>\n<p>Alternatively, a drop below the flag support at $15,100 opens the door for a touch of the 20-MA at $14,680. The swift, nearly vertical breakout that occurred from Nov 4 &#8211; 5 occurred without establishing any \u2018new supports\u2019, and as the volume profile, visible range shows there is a gap extending from $13,900 to $15,500. <\/p>\n<p>In the event that the price falls below $15,100 and buyers don\u2019t perceive this as a dip-buying opportunity, there is the possibility of a retest of the $14,000 to $13,800 level as support. <\/p>\n<p>While a 9%, $1,400 drop is un-nerving, lower support retests are perfectly natural and healthy after strong rallies like the one seen this week. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_finally_find_their_way\"><\/span>Altcoins finally find their way<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/9356ffa7-f106-454a-8bd2-a008796281e0.png\"\/><figcaption style=\"text-align: center;\"><em>Crypto market daily price chart. Source: <\/em><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"http:\/\/coin360.com\/\"><em>Coin360<\/em><\/a><\/figcaption><\/figure>\n<p>As Bitcoin price searches for direction, altcoins have regained a smidgen of the vast territory lost over the past two months. Ether (ETH) is the most notable leader of the past few days as the altcoin rallied to $447 and is currently attempting to break through resistance at $450. <\/p>\n<p>Yearn Finance (YFI) also made a strong move as it rallied more than 30% to $11,100. Uniswap\u2019s UNI token also made waves at it added 15.5% and currently trades at $2.53. <\/p>\n<p>According to <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/\">CoinMarketCap<\/a>, the overall cryptocurrency market cap now stands at $444.6 billion and Bitcoin\u2019s dominance rate is 64.7%.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/div>\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\/bull-flag-breakout-will-decide-whether-bitcoin-price-goes-to-16k-or-14k\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bull flag breakout will decide whether Bitcoin price goes to $16K or $14K &#8221; Bitcoin price (BTC) appears to be taking a short breather after reaching a new 2020 high at $15,960 on Nov. 5. The 1-hour and 4-hour timeframe show the price compressing within a flag and throughout the majority of the trading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":106773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-11\/ed232a34-bbb2-4098-ace4-3850a15a6631.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,74938,75150,73785],"class_list":["post-106772","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ethereum-price","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106772","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=106772"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/106772\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/106773"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=106772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=106772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=106772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}