{"id":252683,"date":"2021-05-18T20:00:00","date_gmt":"2021-05-18T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/famous-analyst-calls-43k-bitcoin-price-logical\/"},"modified":"2021-05-18T20:00:00","modified_gmt":"2021-05-18T17:00:00","slug":"famous-analyst-calls-43k-bitcoin-price-logical","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/famous-analyst-calls-43k-bitcoin-price-logical\/","title":{"rendered":"# Famous analyst calls $43K Bitcoin price &#8216;logical&#8217;"},"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-6a3e3a78ac606\" 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-6a3e3a78ac606\" 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\/famous-analyst-calls-43k-bitcoin-price-logical\/#Bollinger_Current_price_action_%E2%80%9Ccan_tell_a_lot%E2%80%9D\" >Bollinger: Current price action &#8220;can tell a lot&#8221;<\/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\/famous-analyst-calls-43k-bitcoin-price-logical\/#No_bears_to_see_here\" >No bears to see here<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Famous analyst calls $43K Bitcoin price &#8216;logical&#8217;  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) may have lost 35% since its all-time highs of $64,500, but its current price is actually \u201clogical.\u201d<\/p>\n<p>That\u2019s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bollinger_Current_price_action_%E2%80%9Ccan_tell_a_lot%E2%80%9D\"><\/span>Bollinger: Current price action &#8220;can tell a lot&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bbands\/status\/1394672831334518788\">tweet<\/a> on May 18, Bollinger, who is well known as a source of Bitcoin analysis despite decades in the market, called for calm following fresh volatility.<\/p>\n<p>\u201c~43,000 is what we call a logical level for $BTCUSD. It is defined by the January peak and the March trough,\u201d he explained. <\/p>\n<blockquote><p>\u201cPrice action at logical levels can tell the smart trader\/analyst who is paying attention a lot.\u201d<\/p><\/blockquote>\n<p>Bollinger referred to Bitcoin\u2019s previous all-time high at around $42,000, which is also a level at which it bounced in early March during another retracement.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-05\/ec8d3f60-9e13-45f0-b0e6-6a7d7cc93663.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp) with Bollinger bands. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph also reported on Tuesday, the focal level is something of a natural support line in the sand \u2014 it represents the average 35% correction from a high that Bitcoin has seen throughout its history.<\/p>\n<p>Even for more bearish voices, the significance of the $42,000 cannot be discounted. Among them was CNBC regular Carter Worth, who has predicted that a further downward move for BTC\/USD could send the pair as low as $29,000.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"No_bears_to_see_here\"><\/span>No bears to see here<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Meanwhile, the Bollinger bands indicator itself continues to track BTC\/USD with precision. Its constricting and widening bands have successfully called episodes of price volatility up and down, including the past week\u2019s moves.\u00a0The bands are fixed around a 20-day simple moving average using a single standard deviation.<\/p>\n<p>Bollinger himself has also had his moments of Bitcoin price clairvoyance.<\/p>\n<p>With the exception of trader concerns over China adding to selling pressure, Bitcoin is broadly in a resilient mood \u2014 and multiple other indicators and analysts alike remain bullish on the future.<\/p>\n<p>&#8220;Bitcoin\u00a0still on track as always. We could see an incredibly bullish month or 2 ahead,&#8221; Danny Scott, CEO of exchange CoinCorner, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CoinCornerDanny\/status\/1394687193466163200\">added<\/a> on Tuesday, comparing 2021 to previous bull cycles.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/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\/famous-analyst-calls-43k-bitcoin-price-logical\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Famous analyst calls $43K Bitcoin price &#8216;logical&#8217; &#8221; Bitcoin (BTC) may have lost 35% since its all-time highs of $64,500, but its current price is actually \u201clogical.\u201d That\u2019s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. Bollinger: Current price action &#8220;can tell a lot&#8221; In a tweet on May&#8230;<\/p>\n","protected":false},"author":1,"featured_media":252684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMmE4ZjNlYWYtNjMyYy00ZTI4LWE4Y2ItNGIxMzYwZmU1ZTY2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-252683","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\/252683","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=252683"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/252683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/252684"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=252683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=252683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=252683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}