{"id":299598,"date":"2021-07-15T11:40:57","date_gmt":"2021-07-15T08:40:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k\/"},"modified":"2021-07-15T11:40:57","modified_gmt":"2021-07-15T08:40:57","slug":"new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k\/","title":{"rendered":"# New data hints why Bitcoin price action has spent two months at $30K"},"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-6a3049c86ab06\" 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-6a3049c86ab06\" 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\/new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k\/#All_roads_lead_to_30000\" >All roads lead to $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\/new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k\/#Research_defends_%E2%80%9CBitcoin_supercycle%E2%80%9D\" >Research defends &#8220;Bitcoin supercycle&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># New data hints why Bitcoin price action has spent two months at $30K <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) has seen almost two months of rangebound price moves after hitting $30,000 \u2014 and new data hints why.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1415318430509584390\">series of tweets<\/a> on July 15, popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> commentator Nunya Bizniz presented multiple arguments supporting the significance of $30,000 for BTC\/USD.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"All_roads_lead_to_30000\"><\/span>All roads lead to $30,000?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite rising fundamentals and ongoing adoption narratives, BTC price action has failed to reestablish a bullish trend.<\/p>\n<p>Still 50% below recent all-time highs, Bitcoin is without direction, something which leads opinions to favor a bearish outcome of what has been eight weeks of sideways movement.<\/p>\n<p>For Nunyaz Bizniz, there are a number of technical factors which are converging to support $30,000 as a focal level.<\/p>\n<p>These include $30,000 being \u201c<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>roximately\u201d the 1.618 Fibonacci extension level on the monthly chart versus the $3,100 lows in late 2018, as well as the 2021 yearly opening price.<\/p>\n<p>Its psychological significance is compounded by it being a round number, and as others have noted, it fits into a longer-term trendline which places $64,500 as something of a mini-run to a blow-off top.<\/p>\n<p>\u201cIts approximately the 1.618 Fib Ext. Which in the two prior cycles was tested as support but was never closed below on the monthly chart,\u201d accompanying comments read about the Fibonacci phenomenon. <\/p>\n<blockquote><p>\u201cThis time?\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/b973d0e6-f47f-4d07-98ad-872ceac5314e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart comparison with Fibonacci extensions. Source: Nunya Bizniz\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Research_defends_%E2%80%9CBitcoin_supercycle%E2%80%9D\"><\/span>Research defends &#8220;Bitcoin supercycle&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The importance for Bitcoin not to break below $30,000 and fail to reclaim it compounds existing anxiety about a full-on BTC price breakdown.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin metric sees &#8216;hell of a bounce&#8217; in move which historically heralds BTC price bottom<\/em><\/strong><\/p>\n<p>Amid the unease, some voices <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dhZ3sQr7aaA\">caution<\/a> that it is only a desire to interpret events to push one\u2019s own narrative, bullish or bearish, which is at play. <\/p>\n<p>Bitcoin itself, meanwhile, is not as weak as price suggests, as fundamentals confirm.<\/p>\n<p>\u201cRegardless on your risk appetite, strategizing now is key, so as not to miss the next wave in this current Bitcoin supercycle,\u201d Stack Funds concluded in its latest report released Thursday.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/53ca6303-a699-4001-b723-86a67227db76.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Nunya Bizniz meanwhile included Tesla\u2019s BTC stash as a potential sticking point. Below $30,000, the user calculated, the firm would start being underwater, which may trigger executive demands to sell more in order to reduce losses.<\/p>\n<p>As Cointelegraph reported, investors are already back in the accumulation phase around $30,000.<\/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\/new-data-hints-why-bitcoin-price-action-has-spent-two-months-at-30k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# New data hints why Bitcoin price action has spent two months at $30K &#8221; Bitcoin (BTC) has seen almost two months of rangebound price moves after hitting $30,000 \u2014 and new data hints why. In a series of tweets on July 15, popular Twitter commentator Nunya Bizniz presented multiple arguments supporting the significance of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":299599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZjY2NWJlM2ItMzFhNS00ZTA3LTljZmEtZjljNzcxODI3ZmQxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-299598","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\/299598","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=299598"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/299598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/299599"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=299598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=299598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=299598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}