{"id":142048,"date":"2020-12-26T20:51:59","date_gmt":"2020-12-26T17:51:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\/"},"modified":"2020-12-26T20:51:59","modified_gmt":"2020-12-26T17:51:59","slug":"as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\/","title":{"rendered":"# As Bitcoin nears $26K, BTC may break $40K in the next impulse wave, says trader"},"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-6a3bd7134d1f2\" 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-6a3bd7134d1f2\" 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\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\/#25000_BTC_now_above_stock-to-flow_model_price\" >$25,000 BTC now above stock-to-flow model price<\/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\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\/#What_happens_to_Bitcoin_next\" >What happens to Bitcoin next?<\/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\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\/#Take_notice_of_institutional_demand\" >Take notice of institutional demand<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># As Bitcoin nears $26K, BTC may break $40K in the next impulse wave, says trader <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The price of Bitcoin (BTC) has reached a new all-time high of $25,945 on Binance on Dec. 26 merely a day after it achieved its previous record high on Christmas day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/47c1953d-b9da-4988-a826-f8fe5589a7ae.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT hourly candle chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>There are many broad reasons behind Bitcoin\u2019s rally, such as the high institutional demand for BTC. But for the current intraday rally, excessive shorting on Binance Futures was likely the primary catalyst.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"25000_BTC_now_above_stock-to-flow_model_price\"><\/span>$25,000 BTC now above stock-to-flow model price<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Before the upsurge, many traders were shorting Bitcoin across most major futures exchanges. This eventually led to a short squeeze as short-sellers were selling so close to the previous all-time high.<\/p>\n<p>As soon as the record-high broke, BTC began to surge rapidly as Bitcoin price entered price discovery. What&#8217;s more, the current rally means that BTC is now above the mean line of the popular stock-to-flow model, which forecasts a $100,000 target by December 2021.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> price $25.3K above S2F model value $24.9K<br \/>real time S2F charts: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/K2eCFhz43I\">https:\/\/t.co\/K2eCFhz43I<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ErGHZVDeuW\">pic.twitter.com\/ErGHZVDeuW<\/a><\/p>\n<p>\u2014 PlanB (@100trillionUSD) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1342849642531328001?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_to_Bitcoin_next\"><\/span>What happens to Bitcoin next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to data from Bybt.com, more than $131 million worth of Bitcoin futures contracts were liquidated in the last 24 hours.\u00a0As long as the derivatives market continues to see an increase in sellers, the probability of more short squeezes in the near future remains high.<\/p>\n<p>Meanwhile, traders and technical analysts <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly remain overwhelmingly positive on Bitcoin\u2019s price trend. Popular trader Philip Swift, for example, noted that the number of big sellers has actually subsided during the current rally.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> price action looks strong here.\u00a0 Few sellers on Coinbase in the short term shown here by the lack of asks (yellow lines) above price.<\/p>\n<p>In terms of on-chain activity&#8230; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/NyLfPiH8gi\">pic.twitter.com\/NyLfPiH8gi<\/a><\/p>\n<p>\u2014 Philip Swift (@PositiveCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1342881757415280640?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Large players, &gt;1000btc wallets, have calmed down for 1st time in this huge run-up,&#8221; explained Swift. &#8220;We can see the number of &gt;1000btc wallets decrease rapidly over the past week or so. Whereas we can see the 1-10 BTC wallets (mass retail) have continued to steadily climb in recent weeks.&#8221; <\/p>\n<p>He added:<\/p>\n<blockquote><p>So quick topline analysis suggests a lot of retail buyers are now coming in over the Christmas break. Potentially due to: a) hearing about BTC from fam\/friends during the holidays now it is making new ATH&#8217;s. b) plus some potential switching out of XRP\/other alts.<\/p><\/blockquote>\n<p>Traders are also increasingly cautious about shorting Bitcoin because it is yet to achieve a clear top. Until BTC peaks, the chances of a large short squeeze that will push the price even higher within a short time period are high.<\/p>\n<p>Moreover, Cointelegraph Markets analyst Michael van de Poppe said the next impulse wave could see Bitcoin exceed the $40,000 mark. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1342843428904853506\">wrote<\/a>:<\/p>\n<blockquote><p>\u201cBitcoin breaking upwards even more as it&#8217;s <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 my second Fibonacci point of interest around $25,800. The higher we go, the higher the next impulse move will bring us. If $25,800 is this temporary top, next impulse could bring $BTC towards $40,000+.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Take_notice_of_institutional_demand\"><\/span>Take notice of institutional demand<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The next logical top for Bitcoin would likely be when the institutional buying of Bitcoin slows down.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">16\/ Here are the financial institutions and trading legends that have recognized Bitcoin is Gold 2.0 over the last 4 months:<\/p>\n<p>&#8211; Fidelity<br \/>&#8211; JP Morgan<br \/>&#8211; Bloomberg<br \/>&#8211; Deutsche Bank<br \/>&#8211; Citibank<br \/>&#8211; Jefferies<br \/>&#8211; Blackrock<br \/>&#8211; Guggenheim<br \/>&#8211; AllianceBernstein<br \/>&#8211; Bill Miller<br \/>&#8211; Mass Mutual<br \/>(+More)<\/p>\n<p>\u2014 Dan Held (@danheld) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/danheld\/status\/1342878244517896194?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The most practical way to gauge institutional sentiment is to evaluate the volume of the CME Bitcoin futures market and BTC inflows into Grayscale.<\/p>\n<p>Until the two institutional investment vehicles see a noticeable decline in demand and trading volume, the chances of a deep Bitcoin correction remain low.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\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\/as-bitcoin-nears-26k-btc-may-break-40k-in-the-next-impulse-wave-says-trader\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# As Bitcoin nears $26K, BTC may break $40K in the next impulse wave, says trader &#8221; The price of Bitcoin (BTC) has reached a new all-time high of $25,945 on Binance on Dec. 26 merely a day after it achieved its previous record high on Christmas day. BTC\/USDT hourly candle chart (Binance). Source: TradingView.com&#8230;<\/p>\n","protected":false},"author":1,"featured_media":142049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/4a857ffb-24ae-4f25-bd6e-00d7fdbe11dc.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-142048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/142048","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=142048"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/142048\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/142049"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=142048"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=142048"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=142048"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}