{"id":269261,"date":"2021-06-08T18:16:56","date_gmt":"2021-06-08T15:16:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-nears-30k-as-estimates-reveal-19k-support-floor\/"},"modified":"2021-06-08T18:16:56","modified_gmt":"2021-06-08T15:16:56","slug":"bitcoin-price-nears-30k-as-estimates-reveal-19k-support-floor","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-nears-30k-as-estimates-reveal-19k-support-floor\/","title":{"rendered":"# Bitcoin price nears $30K as estimates reveal $19K support floor"},"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-6a400a6250f43\" 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-6a400a6250f43\" 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-nears-30k-as-estimates-reveal-19k-support-floor\/#Bulls_get_in_line_to_protect_30000\" >Bulls get in line to protect $30,000<\/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-nears-30k-as-estimates-reveal-19k-support-floor\/#19000_seen_as_ultimate_floor\" >$19,000 seen as ultimate floor<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price nears $30K as estimates reveal $19K support floor <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Bitcoin (BTC) edged closer to significant $30,000 support later on June 8 amid predictions that a major crypto correction was imminent.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/b70837a0-6f47-48dd-abe5-6b512a79445c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bulls_get_in_line_to_protect_30000\"><\/span>Bulls get in line to protect $30,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">TradingView<\/a>\u00a0showed BTC\/USD making repeated lower lows on short timeframes during Tuesday.<\/p>\n<p>A previous dip had taken the pair to $32,000 before a brief rebound then fizzled, with that level subsequently giving way.<\/p>\n<p>At the time of writing, Bitcoin was plumbing levels not seen since May&#8217;s initial $30,000 correction, focusing on $31,500.<\/p>\n<p>As Cointelegraph reported, traders have gone on record to call a fresh capitulation event across cryptocurrencies, something which could shave around 20% off the total crypto market cap. Under such circumstances, Bitcoin could trade at $25,000 in the short term.<\/p>\n<p>&#8220;From a technical point of view its difficult not to see $30k being tested and probably break,&#8221; Filbfilb, co-founder of trading suite Decentrader, told Cointelegraph. <\/p>\n<blockquote><p>&#8220;If this is to prove to be a bottom it would make sense to test the liquidity resting around 28k before bouncing. If there fails to be a response around those prices which quickly recovers weekly support of 32k, then the outlook will be bleak.&#8221;<\/p><\/blockquote>\n<p>A look at buy and sell positions on largest global exchange Binance showed support lining up at $30,500, with resistance curiously thin below $40,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/67e7e864-df59-42d2-96c9-328dec554550.png\"><figcaption style=\"text-align: center;\"><em>Buy and sell positions on Binance as of June 8. Source: Material Indicators\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"19000_seen_as_ultimate_floor\"><\/span>$19,000 seen as ultimate floor<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For on-chain monitoring service Whalemap, meanwhile, essential support areas for BTC\/USD more broadly began at $28,000.<\/p>\n<p>Analysts used &#8220;cohort-based realized price,&#8221; a metric that extends realized price according to how large the wallet is, along with prices at which current hodlers bought while Bitcoin was running to $64,500 all-time highs.<\/p>\n<p>&#8220;To conclude, there is massive confluence at the 19k level which makes it super hard for BTC to go lower than that,&#8221; they <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1402278599596589058\">tweeted<\/a>. <\/p>\n<blockquote><p>&#8220;Another level with confluence is at 27-28k. At least a relief bounce from there would make a lot of sense.&#8221;<\/p><\/blockquote>\n<p>Nonetheless, should Bitcoin go below $20,000, it would be the first time in history that the high from a previous bull cycle had been broken.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/d1e7b419-048e-4e65-8039-b6e0598ed2a9.png\"><figcaption style=\"text-align: center;\"><em>Whalemap BTC\/USD volume chart with support levels. Source: Whalemap\/ Twitter<\/em><\/figcaption><\/figure>\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\/bitcoin-price-nears-30k-as-estimates-reveal-19k-support-floor\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price nears $30K as estimates reveal $19K support floor &#8221; Bitcoin (BTC) edged closer to significant $30,000 support later on June 8 amid predictions that a major crypto correction was imminent. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bulls get in line to protect $30,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":269262,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvZmM1NDI2MTctNzhlYS00MjJkLTg4ODQtODcwMjhkMzVmNTBhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-269261","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\/269261","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=269261"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/269261\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/269262"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=269261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=269261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=269261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}