{"id":307321,"date":"2021-07-24T17:46:15","date_gmt":"2021-07-24T14:46:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown\/"},"modified":"2021-07-24T17:46:15","modified_gmt":"2021-07-24T14:46:15","slug":"bitcoin-price-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown\/","title":{"rendered":"# Bitcoin price hits $34K as trader forecasts fresh weekend resistance showdown"},"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-6a407371291cf\" 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-6a407371291cf\" 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-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown\/#Bitcoin_battles_34000\" >Bitcoin battles $34,000<\/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-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown\/#Ethereum_%E2%80%9Cconfirming%E2%80%9D_breakout\" >Ethereum &#8220;confirming&#8221; breakout<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price hits $34K as trader forecasts fresh weekend resistance showdown <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) touched $34,000 on July 24 after the latest resistance flip held to propel the market higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/30ef2f79-a387-429f-abdd-23c418004dd9.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_battles_34000\"><\/span>Bitcoin battles $34,000<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 just hitting the $34,000 on Bitstamp on Saturday before returning to linger around $200 lower.<\/p>\n<p>The past 24 hours were profitable for traders as Bitcoin launched from $32,000 to deliver 4% gains that were holding above $33,800 at the time of writing.\u00a0<\/p>\n<p>For Cointelegraph contributor Micha\u00ebl van de Poppe, it was necessary for the strength to continue and for $32,500 to hold in the event of a retracement.<\/p>\n<p>&#8220;Bitcoin breaks through that resistance at $32.5-$32.7K. Holding that for support = likely continuation towards $36K,&#8221; he forecast in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1418895672535883784\">Twitter update<\/a>. <\/p>\n<blockquote><p>&#8220;Overall, the next resistance at $34.5K is possibly being reached during the weekend.&#8221;<\/p><\/blockquote>\n<p>Such behavior would not be at all surprising given the wide trading range in which BTC\/USD is currently acting \u2014 $42,000, the point of all-time highs from February, remains the range ceiling and line in the sand for a definitive bull market continuation.<\/p>\n<p>Fellow trader and analyst Rekt Capital meanwhile highlighted ongoing changes with the 50-week exponential moving average (EMA) as a sign of longer-timeframe bullishness returning.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Last week, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> broke down from the triangular market structure that was formed by the 21-week EMA resistance &amp; the 50-week EMA support<\/p>\n<p>Today, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is just above the 50 EMA, trying to reclaim it as support<\/p>\n<p>Weekly Close above the 50 EMA will confirm the reclaim<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/fsDm4hrK4C\">pic.twitter.com\/fsDm4hrK4C<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1418939022517354506?ref_src=twsrc%5Etfw\">July 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the more cautious side, as Cointelegraph reported, $24,000 projections remain should Bitcoin reverse, with one trader eyeing a CME futures gap nearby as possible support.<\/p>\n<p>&#8220;We see support at the $22k and 24k level should there be a breakdown below the current support level,&#8221; trading suite Decentrader added in a fresh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/decentrader.medium.com\/market-update-the-accumulation-vs-re-distribution-debate-12c1c42edf2a\">market update<\/a> on Friday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_%E2%80%9Cconfirming%E2%80%9D_breakout\"><\/span>Ethereum &#8220;confirming&#8221; breakout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins meanwhile slowed the pace of their own gains but nontheless retained impressive performance over the week.<\/p>\n<p><strong><em>Related:\u00a0Just HODL! Bitcoin and Ethereum outperform \u2018lower risk\u2019 crypto index funds<\/em><\/strong><\/p>\n<p>With many of the top fifty cryptocurrencies by market cap seeing weekly returns of 10% or more, confidence was returning to the market.<\/p>\n<p>Ether (ETH), the largest altcoin, traded back above $2,000, hitting ten-day highs.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/b7423600-c7ce-4119-9a3d-45818ab1b959.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;So far, so good towards confirming a breakout here,&#8221; Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1418933737824325646\">said<\/a> about ETH\/USD performance.<\/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-price-hits-34k-as-trader-forecasts-fresh-weekend-resistance-showdown\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price hits $34K as trader forecasts fresh weekend resistance showdown &#8221; Bitcoin (BTC) touched $34,000 on July 24 after the latest resistance flip held to propel the market higher. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin battles $34,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD just hitting the $34,000 on Bitstamp&#8230;<\/p>\n","protected":false},"author":1,"featured_media":307322,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvN2E0ODY4YzItMGVjMi00YjAwLWIyYjYtYzIxMTFjOWVjNTNkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,73785],"class_list":["post-307321","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\/307321","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=307321"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/307321\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/307322"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=307321"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=307321"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=307321"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}