{"id":137414,"date":"2020-12-19T17:12:23","date_gmt":"2020-12-19T14:12:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-can-hit-25k-before-2021-if-this-key-support-level-holds\/"},"modified":"2020-12-19T17:12:23","modified_gmt":"2020-12-19T14:12:23","slug":"bitcoin-price-can-hit-25k-before-2021-if-this-key-support-level-holds","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-can-hit-25k-before-2021-if-this-key-support-level-holds\/","title":{"rendered":"# Bitcoin price can hit $25K before 2021 if this key support level holds"},"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-6a3c670a5673f\" 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-6a3c670a5673f\" 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-can-hit-25k-before-2021-if-this-key-support-level-holds\/#Continuation_is_likely_to_25800_if_this_level_holds\" >Continuation is likely to $25,800 if this level holds<\/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-can-hit-25k-before-2021-if-this-key-support-level-holds\/#Total_market_cap_continues_to_climb\" >Total market cap continues to climb<\/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-can-hit-25k-before-2021-if-this-key-support-level-holds\/#Are_altcoins_finally_starting_to_run\" >Are altcoins finally starting to run?<\/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-can-hit-25k-before-2021-if-this-key-support-level-holds\/#Bitcoin_short-term_outlook\" >Bitcoin short-term outlook<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price can hit $25K before 2021 if this key support level holds  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) price has seen a massive rally in previous months, accelerating from $10,000 to a recent all-time high of around $23,700. This is a rally of 135% in just a matter of a few months.\u00a0<\/p>\n<p>It\u2019s speculative to discuss where the price of Bitcoin could run from here. However, certain levels must be held for this rally to continue. Additionally, several indicators can be useful for analyzing the charts and anticipating potential areas of interest in price discovery. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Continuation_is_likely_to_25800_if_this_level_holds\"><\/span>Continuation is likely to $25,800 if this level holds<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/c829d996-2e85-4bf8-98f8-f6b4d27d43d5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/25avimHr\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The daily chart for Bitcoin shows a massive breakout above $19,500. This rally led to a temporary top of $23,500 but automatically turned the $19,500 level into a critical level to hold. <\/p>\n<p>The chart also shows a clear support\/resistance flip of the $16,000 level, triggering further upwards pressure leading to the breakout. Based on the daily timeframe, the recent higher low is made around $17,500. As long as Bitcoin sustains above that level, the uptrend is intact and continuation is likely.<\/p>\n<p>The Fibonacci extension tool is useful to define the potential short-term top of the rally. The first Fibonacci level is the 1.618 Fibonacci extension at $22,100, which has been surpassed. This means that the market is currently seeing an immense amount of buy pressure. <\/p>\n<p>The next level of interest is found at $25,800, the 2.618 Fibonacci level, which could be the next marker for a potential top. <\/p>\n<p>Such vertical rallies aren&#8217;t sustainable for long. Thus, a correction will occur at some point. However, predicting when it h<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>ens is anyone&#8217;s guess as Bitcoin may easily run to $30,000 and then see a 30% correction.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Total_market_cap_continues_to_climb\"><\/span>Total market cap continues to climb<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/a5120871-cbc6-4ff1-a433-ed54fe623481.png\"><figcaption style=\"text-align: center;\"><em>Total market capitalization cryptocurrency 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/474pTrXK\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The total market capitalization of cryptocurrency shows a massive upward breakout in the previous months, largely fueled by Bitcoin hitting its new all-time highs. <\/p>\n<p>Following BTC&#8217;s footsteps, the total market cap is now approaching the final hurdle before going into price discovery. <\/p>\n<p>Just like Bitcoin, there are important levels to watch for a potential correction. The first is found around $550 billion, which could serve as support for the pullback. If that doesn\u2019t hold, the next levels are $435-$445 billion and $380 billion.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Are_altcoins_finally_starting_to_run\"><\/span>Are altcoins finally starting to run?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/ee0d0c19-4f20-494d-8ecb-2e01eb0f089d.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin Dominance 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/U3cfqjRM\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Historically, Bitcoin dominance tops out in December, after which a strong quarter starts for altcoins. <\/p>\n<p>To have such a strong quarter for altcoins, Bitcoin has to correct and stabilize, as that\u2019s the best nature for altcoins to act in. Therefore, as history shows us, the next quarter could be a significant quarter for altcoins. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_short-term_outlook\"><\/span>Bitcoin short-term outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/568697cf-b3cf-4e23-83b7-0a77e80f8720.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-week chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/x\/NjaBCVIM\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>The weekly Bitcoin chart shows a massive vertical run in the previous months, which frequently ends in a violent correction just like three years ago.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<p>As stated already, nobody knows when this big pullback will occur. Bitcoin may continue running to $30,000 before it starts to correct. However, the primary level to watch in this correction is the region around $18,500, as the chart shows.<\/p>\n<p>As long as that level holds, both Bitcoin and other cryptocurrencies will likely keep climbing with the total crypto market cap going into price discovery just like BTC. <\/p>\n<p><em>The views and opinions expressed here are solely those of the <\/em><a rel=\"nofollow noopener\" 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=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\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\">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\">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-can-hit-25k-before-2021-if-this-key-support-level-holds\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price can hit $25K before 2021 if this key support level holds &#8221; Bitcoin (BTC) price has seen a massive rally in previous months, accelerating from $10,000 to a recent all-time high of around $23,700. This is a rally of 135% in just a matter of a few months.\u00a0 It\u2019s speculative to discuss&#8230;<\/p>\n","protected":false},"author":1,"featured_media":137415,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/e7db597e-66d5-4d67-8a75-d34b39c110a3.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74939,75164,73785],"class_list":["post-137414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-market-analysis","tag-price-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/137414","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=137414"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/137414\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/137415"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=137414"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=137414"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=137414"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}