{"id":285053,"date":"2021-06-27T14:16:54","date_gmt":"2021-06-27T11:16:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range\/"},"modified":"2021-06-27T14:16:54","modified_gmt":"2021-06-27T11:16:54","slug":"bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range\/","title":{"rendered":"# Bitcoin bounces off $30K amid &#8216;possibility&#8217; of exit to mid-$40K range"},"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-6a3dccf07b746\" 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-6a3dccf07b746\" 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-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range\/#Bitcoin_avoids_sub-30000_%E2%80%9Cnuke%E2%80%9D\" >Bitcoin avoids sub-$30,000 &#8220;nuke&#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\/bitcoin-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range\/#%E2%80%9CVolatile_but_trending_up%E2%80%9D\" >&#8220;Volatile but trending up&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bounces off $30K amid &#8216;possibility&#8217; of exit to mid-$40K range <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) rose from a fresh $30,000 support challenge on June 27, continuing uncertain ranging which has worried traders.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/a845c77c-e4ff-4448-ac7a-7c16b509dbc9.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=\"Bitcoin_avoids_sub-30000_%E2%80%9Cnuke%E2%80%9D\"><\/span>Bitcoin avoids sub-$30,000 &#8220;nuke&#8221;<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 hitting highs of $33,445 on Bitstamp Sunday.<\/p>\n<p>Saturday saw the pair drop back to $30,070, ultimately averting another dip below significant psychological support after last week&#8217;s volatility.<\/p>\n<p>This was not enough to buoy sentiment among traders, however, as many already believed the local BTC price bottom was not yet in.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Can&#8217;t we just all agree to dump <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> and nuke it to $26k over the weekend to start on monday the next bull run with a V-shape recovery ?<\/p>\n<p>\u2014 Crypto_Ed_NL (@Crypto_Ed_NL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1408463945107709964?ref_src=twsrc%5Etfw\">June 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For analyst Rekt Capital, the prospect of Bitcoin losing its 50-day exponential moving average (EMA), currently at $33,500, was cause for concern for bulls.<\/p>\n<p>&#8220;The BTC recovery is promising but the 50 WEMA hasn&#8217;t yet been reclaimed as support,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1409081569592201220\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers after Sunday&#8217;s move higher. <\/p>\n<blockquote><p>&#8220;Weekly Close above ~$33500 would be enough to save the 50 WEMA as a support.&#8221;\u00a0<\/p><\/blockquote>\n<p>At the time of writing, BTC\/USD traded at around $32,400, leaving a fair amount of ground to cover to clinch a more optimistic start to the coming week.<\/p>\n<p>Rekt Capital\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1409087600883814400\">added<\/a> that using Wyckoff analysis, Bitcoin could still bounce by $10,000 to end in the mid-$40,000 range if a current wedge holds without a breakdown.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/b00b47bc-0a40-4d99-8a54-c576c1b5a568.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD Wyckoff distribution chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CVolatile_but_trending_up%E2%80%9D\"><\/span>&#8220;Volatile but trending up&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As ever, longer-term outlooks from seasoned market participants showed a different world from the fraught intraday price activity.\u00a0<\/p>\n<p><strong><em>Related:\u00a0\u2018Bitcoin will go all the way to $160,000 this year,\u2019 says Celsius CEO<\/em><\/strong><\/p>\n<p>Among the sources of feel-good analysis at the weekend was PlanB, creator of the stock-to-flow price models.<\/p>\n<p>&#8220;Bitcoin:\u00a0short term volatile, long term trending up,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1409093300095700993\">summarized<\/a> alongside a comparative chart of Bitcoin&#8217;s 200-week moving average (WMA) and realized cap.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-06\/8297875b-7458-4791-8221-401ab7c05ced.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD, 200WMA and realized cap chart. Source: PlanB\/ Twitter<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, the 200 WMA is a principal &#8220;line in the sand&#8221; that spot price has never crossed. It continues to increase each month despite recent losses.<\/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-bounces-off-30k-amid-possibility-of-exit-to-mid-40k-range\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bounces off $30K amid &#8216;possibility&#8217; of exit to mid-$40K range &#8221; Bitcoin (BTC) rose from a fresh $30,000 support challenge on June 27, continuing uncertain ranging which has worried traders. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin avoids sub-$30,000 &#8220;nuke&#8221; Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD hitting highs of $33,445&#8230;<\/p>\n","protected":false},"author":1,"featured_media":285054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvYmQ4OWFlMjctZTVkYi00MzY4LTk2MjQtYThhOWEwMGQ5YTc1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-285053","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\/285053","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=285053"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/285053\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/285054"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=285053"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=285053"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=285053"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}