{"id":145413,"date":"2021-01-01T15:15:20","date_gmt":"2021-01-01T12:15:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-faces-the-last-roadblock-before-30000\/"},"modified":"2021-01-01T15:15:20","modified_gmt":"2021-01-01T12:15:20","slug":"bitcoin-price-faces-the-last-roadblock-before-30000","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-faces-the-last-roadblock-before-30000\/","title":{"rendered":"# Bitcoin price faces the last roadblock before $30,000"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a299dc426d25\" 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-6a299dc426d25\" 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-faces-the-last-roadblock-before-30000\/#29800_is_critical_for_another_leg_up_for_Bitcoin\" >$29,800 is critical for another leg up for Bitcoin<\/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-faces-the-last-roadblock-before-30000\/#What_happens_next\" >What happens next?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price faces the last roadblock before $30,000  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>The price of Bitcoin (BTC) has reached a new all-time high above $29,400 across major exchanges on Jan. 1. In other words, BTC is just 2% away from reaching the psychological resistance level at $30,000.<\/p>\n<p>Breaking $30,000 could fuel renewed confidence in the market\u00a0with the last remaining technical roadblock right below this level.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/b65e1edd-1e57-4912-b1d3-57a54a10dcbb.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hour price chart (Binance). Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>Hence, in the near term, sellers would look to defend the $30,000 resistance level with stacked sell orders. Exchange order books show large sell orders in the $29,800 to $30,000 range.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"29800_is_critical_for_another_leg_up_for_Bitcoin\"><\/span>$29,800 is critical for another leg up for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/6ef73870-b460-4960-8279-f6f5892a3e7e.png\"><figcaption style=\"text-align: center;\"><em>Binance order book heatmap. Source Material Indicators<\/em><\/figcaption><\/figure>\n<p>Exchange order books on both Binance and Bitfinex show relatively large sell orders from $29,800 to $30,000. This means that sellers would attempt to lead a Bitcoin pullback before it reaches $29,800.<\/p>\n<p>A pseudonymous cryptocurrency trader known as \u201cLoma\u201d similarly said that if Bitcoin was to reject at $30,000, it would likely drop from $29,800. He <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/LomahCrypto\/status\/1344813245916471296\">said<\/a>:<\/p>\n<blockquote><p>\u201cBTC either blows through $30,000 over the next few days into the $31-33k territory or we front-run and reject at like $29,800. Basically what I&#8217;m saying is, if you&#8217;re shorting $30k, there&#8217;s a very good chance you&#8217;re going to be ran over.\u201d<\/p><\/blockquote>\n<p>Traders in the Bitcoin futures market have been trying the suppress the price of BTC and have shorted aggressively in the past 24 hours.<\/p>\n<p>The futures funding rate on Coinbase and other major exchanges have remained at around 0.01%, despite the recent rally. At times, it fell below 0.01%, indicating that the majority of the market was short or selling BTC.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">That funding rate is a New Year gift I be leave <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GSPCDnZuKu\">pic.twitter.com\/GSPCDnZuKu<\/a><\/p>\n<p>\u2014 Coinalyze (@coinalyzetool) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinalyzetool\/status\/1344743092054863874?ref_src=twsrc%5Etfw\">December 31, 2020<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, retail investors in the Bitcoin spot market, which refers to exchanges without derivatives and leverage, have been accumulating BTC.<\/p>\n<p>On December 31, shortly before the New Year, the price of Bitcoin rallied to a new all-time high. Analysts at Santiment said that they spotted an increase in on-chain movements, which might indicate retail accumulation.<\/p>\n<p>Since Coinbase saw a large premium over other major exchanges, like Binance, retail investors on Coinbase likely bought Bitcoin entering into the New Year. The analysts <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1344819241451724800?s=20\">said<\/a>:<\/p>\n<blockquote><p>\u201cAs #Bitcoin&#8217;s markets opened on 2021 for the first time about 30 minutes ago (UTC), prices have jumped to $29,460 as $BTC has made yet another AllTimeHigh. Active addresses are on the rise in recent hours to support this push.\u201d<\/p><\/blockquote>\n<p>In the near term, Bitcoin would likely see a battle between futures short-sellers and retail investors in the spot market as the price reaches closer to $30,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/02dc6281-e18e-4126-8236-e4a0eeaaccaa.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin reaches all-time high on Jan. 1. Source: Santiment<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"What_happens_next\"><\/span>What happens next?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the near term, the key is to see Bitcoin\u2019s behavior at $29,800. There is a strong possibility that it pulls back without surging to that level, which could lead to a decent-size correction.<\/p>\n<p>If BTC surges past $29,800 without much difficulty, then a broader rally above $30,000 becomes probable in the foreseeable future.<\/p>\n<p>As Cointelegraph reported earlier this week, Bitcoin will look to extend its gains in the first quarter of 2021, several metrics suggest.\u00a0<\/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\/bitcoin-price-faces-the-last-roadblock-before-30-000\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price faces the last roadblock before $30,000 &#8221; The price of Bitcoin (BTC) has reached a new all-time high above $29,400 across major exchanges on Jan. 1. In other words, BTC is just 2% away from reaching the psychological resistance level at $30,000. Breaking $30,000 could fuel renewed confidence in the market\u00a0with the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":145414,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2021-01\/ec9bbeee-4243-4a29-9673-6ac4ec85ed6f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-145413","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\/145413","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=145413"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/145413\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/145414"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=145413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=145413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=145413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}