{"id":298894,"date":"2021-07-14T19:30:24","date_gmt":"2021-07-14T16:30:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-returns-to-critical-pivot-zone-as-33k-stays-untouched\/"},"modified":"2021-07-14T19:30:24","modified_gmt":"2021-07-14T16:30:24","slug":"bitcoin-price-returns-to-critical-pivot-zone-as-33k-stays-untouched","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-returns-to-critical-pivot-zone-as-33k-stays-untouched\/","title":{"rendered":"# Bitcoin price returns to &#8216;critical&#8217; pivot zone as $33K stays untouched"},"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-6a40879d06b93\" 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-6a40879d06b93\" 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-returns-to-critical-pivot-zone-as-33k-stays-untouched\/#BTC_price_Fits_and_starts_below_33000\" >BTC price: Fits and starts below $33,000<\/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-returns-to-critical-pivot-zone-as-33k-stays-untouched\/#Strong_hands_quietly_scoop_up_liquidity\" >Strong hands quietly scoop up liquidity<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price returns to &#8216;critical&#8217; pivot zone as $33K stays untouched <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) failed to crack $33,000 on July 14 as a bounce from multi-day lows delivered only modest progress.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/269a3188-b51b-42f5-b16e-0da540ba3a68.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=\"BTC_price_Fits_and_starts_below_33000\"><\/span>BTC price: Fits and starts below $33,000<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>\u00a0tracked another day of ranging \u2014 albeit with increased volatility \u2014 for BTC\/USD on Wednesday.<\/p>\n<p>The pair briefly touched $31,750 overnight before a sharp rebound produced highs of $32,970. This meant that $33,000, once firm support, still remained out of reach.<\/p>\n<p>For popular trader Micha\u00ebl van de Poppe, this zone from $32,600 upwards was &#8220;critical to break&#8221; in order for Bitcoin to have a chance at hitting targets higher up in its trading range.<\/p>\n<p>&#8220;Many altcoins making double bottom tests. Great,&#8221; he added in his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1415320264620056584\">Twitter update<\/a>.<\/p>\n<p>At the time of writing, Bitcoin circled $32,800 following repeated attempts to crack $33,000. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1415341085279281153\/\">Buy and sell levels<\/a> on Binance showed support firmly in place at $30,000, with a resistance band at $33,000 nonetheless slowly fading.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/37dada90-424c-43d5-9a11-764cb2857c9c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) as of July 14. 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=\"Strong_hands_quietly_scoop_up_liquidity\"><\/span>Strong hands quietly scoop up liquidity<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Expectations were high on the day ahead of a much-publicized &#8220;Bitcoin bill&#8221; being presented before the government of Paraguay. While information about the legislation has been sketchy, optimists hope that the country will seek to follow El Salvador and make Bitcoin legal tender.<\/p>\n<p>Beyond network fundamentals, there was little else for bulls to leverage at the time of writing, with accumulation by investors big and small yet to show itself in price action.<\/p>\n<p><strong><em>Related:\u00a0Great buy? Bitcoin trades at record 59% below stock-to-flow BTC price model target<\/em><\/strong><\/p>\n<p>In fresh analysis, however, William Clemente suggested that there could be a &#8220;lag&#8221; in price response.<\/p>\n<p>&#8220;Vice versa. Price can sometimes lag the accumulation flows. For example in January or September 2020 we had a bull div, not nearly this size though,&#8221; he said in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1415315635010220039\/\">Twitter comments<\/a>. <\/p>\n<blockquote><p>&#8220;Also to note: we had one in March 2020, but macro forces can obviously override this.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/163f5175-0185-40dd-bc37-71423d19f1c8.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin liquid supply ratio annotated chart. Source: William Clemente\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Clemente highlighted a chart of Bitcoin&#8217;s liquid supply ratio (LSR), a metric now signalling movement of BTC to those with little history of selling.\u00a0<\/p>\n<p>&#8220;Nothing has changed, supply shock still in play,&#8221; he said, referencing last year&#8217;s block subsidy halving. <\/p>\n<blockquote><p>&#8220;LSR shows that the action of Bitcoins being reabsorbed by strong hands only continues to diverge more from price. Exchanges also down -21,829 BTC in the last 2 weeks; clear trend of accumulation in those flows as well.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1415315635010220039\/photo\/1\"><\/a><\/p><\/blockquote>\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-returns-to-critical-pivot-zone-as-33k-stays-untouched\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price returns to &#8216;critical&#8217; pivot zone as $33K stays untouched &#8221; Bitcoin (BTC) failed to crack $33,000 on July 14 as a bounce from multi-day lows delivered only modest progress. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price: Fits and starts below $33,000 Data from Cointelegraph Markets Pro and TradingView\u00a0tracked another day&#8230;<\/p>\n","protected":false},"author":1,"featured_media":298895,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvNDM1ODY4MmItMTU3MC00OWVjLTkwNWYtYjNlNTkzZWI1NjJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-298894","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\/298894","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=298894"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/298894\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/298895"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=298894"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=298894"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=298894"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}