{"id":296735,"date":"2021-07-12T14:32:32","date_gmt":"2021-07-12T11:32:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-will-see-breakout-during-this-week-says-trader-with-38k-target\/"},"modified":"2021-07-12T14:32:32","modified_gmt":"2021-07-12T11:32:32","slug":"bitcoin-price-will-see-breakout-during-this-week-says-trader-with-38k-target","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-will-see-breakout-during-this-week-says-trader-with-38k-target\/","title":{"rendered":"# Bitcoin price will see breakout \u2018during this week\u2019 says trader with $38K target"},"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-6a400c0c6f422\" 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-6a400c0c6f422\" 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-will-see-breakout-during-this-week-says-trader-with-38k-target\/#Bitcoin_balances_breakout_with_Grayscale_worries\" >Bitcoin balances breakout with Grayscale worries<\/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-will-see-breakout-during-this-week-says-trader-with-38k-target\/#Altcoins_lurk_ahead_of_market_decision\" >Altcoins lurk ahead of market decision<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price will see breakout \u2018during this week\u2019 says trader with $38K target <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) closed beneath a key moving average for the eighth week in a row this weekend, but one analyst is betting on an imminent breakout.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/fb033366-6907-434f-997a-a0542f719e64.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_balances_breakout_with_Grayscale_worries\"><\/span>Bitcoin balances breakout with Grayscale worries<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>\u00a0tracked Bitcoin as it reversed weekend gains on Monday after a dis<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>ointing weekly close.<\/p>\n<p>The largest cryptocurrency had maintained its familiar trading range with $33,000 as support through Saturday and Sunday, but the new week dampened momentum.<\/p>\n<p>For popular trader and analyst Rekt Capital, unless progress can be made, Bitcoin bulls may not have long to last before fresh losses hit.<\/p>\n<p>\u201cThe blue 50-week EMA is still holding as support,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1414530633699840001\">summarized<\/a> in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets. <\/p>\n<blockquote><p>\u201cIf this HL isn\u2019t reclaimed as support soon, the sell-side pressure on the 50 WEMA may be too much for $BTC to hold here.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/a379da8d-964c-44e2-8612-282abeae7d43.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart with 50-week exponential moving average. Source: Rekt Capital\/<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<p>Others were more upbeat. In his <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=MZ5FhxxFU5E\">latest video update<\/a>, fellow trader Micha\u00ebl van de Poppe went as far as to call a BTC price breakout within days.<\/p>\n<p>\u201cI believe that Bitcoin is going to make a breakout to the upside,\u201d he forecast. <\/p>\n<blockquote><p>\u201cI would not be surprised if Bitcoin is going to trade around $38,000 during the days of this week.\u201d<\/p><\/blockquote>\n<p>A look at buy and sell levels at major exchange Binance showed resistance forming at $35,000, with $30,000 remaining in place as overall support.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/911f0672-ff91-46e8-966f-e84bf9a34100.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) chart. Source: Material Indicators\/<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1414525617727541252\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Altcoins_lurk_ahead_of_market_decision\"><\/span>Altcoins lurk ahead of market decision<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Van de Poppe added that this movement might be good for altcoins, which could start capitalizing on bullish sentiment. He had previously argued that altcoins would outperform the speed of Bitcoin\u2019s gains in the coming months.<\/p>\n<p>\u201cI think the altcoins are close to a bottom too,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1413260354239418371\">said<\/a> on Friday.\u00a0<\/p>\n<p><strong><em>Related:\u00a0Top 5 cryptocurrencies to watch this week: BTC, LUNA, ATOM, CAKE, FTT<\/em><\/strong><\/p>\n<p>Most altcoins saw flat performance on the day, little changed over the past 24 hours.<\/p>\n<p>With little by way of strong sentiment in either direction, as Cointelegraph reported, concerns remain that external factors may unduly influence price action across cryptocurrencies.<\/p>\n<p>This comes in the form of the Grayscale unlocking series, which involves around 42,000 BTC over the month of July.<\/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\/bitcoin-price-will-see-breakout-during-this-week-says-trader-with-38k-target\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price will see breakout \u2018during this week\u2019 says trader with $38K target &#8221; Bitcoin (BTC) closed beneath a key moving average for the eighth week in a row this weekend, but one analyst is betting on an imminent breakout. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin balances breakout with Grayscale worries Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":296736,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvYThmYWZhOWMtZDQyNi00MzA3LTk1MWYtYmIxZjY5NTM5Nzk2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,73785],"class_list":["post-296735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296735","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=296735"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/296736"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=296735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=296735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=296735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}