{"id":311598,"date":"2021-07-30T01:15:00","date_gmt":"2021-07-29T22:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-traders-express-mixed-emotions-about-whats-next-for-btc-price\/"},"modified":"2021-07-30T01:15:00","modified_gmt":"2021-07-29T22:15:00","slug":"bitcoin-traders-express-mixed-emotions-about-whats-next-for-btc-price","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-traders-express-mixed-emotions-about-whats-next-for-btc-price\/","title":{"rendered":"# Bitcoin traders express mixed emotions about what\u2019s next for BTC price"},"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-6a373c5748867\" 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-6a373c5748867\" 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-traders-express-mixed-emotions-about-whats-next-for-btc-price\/#The_21-week_EMA_marks_the_line_between_a_bull_and_bear_market\" >The 21-week EMA marks the line between a bull and bear market<\/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-traders-express-mixed-emotions-about-whats-next-for-btc-price\/#Bitcoin_whales_remain_greedy_while_others_are_fearful\" >Bitcoin whales remain greedy while others are fearful<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-traders-express-mixed-emotions-about-whats-next-for-btc-price\/#Long-term_cycles_offer_hope\" >Long-term cycles offer hope<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin traders express mixed emotions about what\u2019s next for BTC price <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The rumor that Amazon would accept cryptocurrency payments sparked a wave of bullish enthusiasm across the crypto market earlier in the week but now this sentiment has begun to wane as Bitcoin (BTC) bulls face stiff resistance at the $40,000 level.\u00a0<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that bears have managed to fend off multiple attempts to flip the $40,000 level to support and defense of this zone continued on July 29 as Bitcoin&#8217;s stagnant price action and added to concerns that the price could fall back to last week&#8217;s $35,000 to $30,000 range. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/7de7f11d-87b8-400b-893f-8e7520347af0.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Here\u2019s what analysts and investors are saying about the recent developments in Bitcoin\u2019s price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_21-week_EMA_marks_the_line_between_a_bull_and_bear_market\"><\/span>The 21-week EMA marks the line between a bull and bear market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin&#8217;s rapid ascent from $31,000 to $40,925 lifted the price near its 21-week exponential moving average, a level that is widely considered as a bull market indicator according to pseudonymous crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analyst Rekt Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The 21-week EMA is largely regarded as a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> Bull Market indicator<\/p>\n<p>When <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> is above it &#8211; BTC is thought to be in a Bull Market<\/p>\n<p>When price is below it &#8211; BTC is thought to be in a Bear Market<\/p>\n<p>BTC is now fighting to breakout beyond the 21-week EMA (green)<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:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rMqeWzJS4i\">pic.twitter.com\/rMqeWzJS4i<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1420416674457690114?ref_src=twsrc%5Etfw\">July 28, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As seen in the tweet above, the 21-week EMA is currently near the $40,000 price level, effectively becoming the \u2018line in the sand\u2019 that separates bulls and bears. <\/p>\n<p>One of the responses to the above tweet offers a word of caution for overly bullish traders because similar moves in the past were followed by lower lows and an extension of bear market conditions. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/63a27988-e8ac-48bd-b7ea-04b37cda1ce3.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 6-day chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/gjn_crypto\/status\/1420417808551325706\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>As shown by the yellow circles in the chart above, previous instances of the price breaking above the 21-week EMA have resulted in a reversal that leads to a retest of lower lows in the following weeks and months.  <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_whales_remain_greedy_while_others_are_fearful\"><\/span>Bitcoin whales remain greedy while others are fearful<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One group of market participants who have shown little evidence of indecision are Bitcoin whales, who have embraced Warren Buffett&#8217;s\u00a0mantra to \u201cbe fearful when others are greedy, and greedy when others are fearful,\u201d by buying up low-priced BTC as weaker hands tap out. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a>&#8216;s whales have been staying busy, and addresses holding between 100 and 10,000 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> just reached a combined <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/AllTimeHigh?src=hash&amp;ref_src=twsrc%5Etfw\">#AllTimeHigh<\/a> 9.19m coins held. They have added 170,000 more <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> since May 22nd, and a staggering 130,000 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> in the past 4 weeks alone. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qv5IbYXgGQ\">https:\/\/t.co\/qv5IbYXgGQ<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/PwrmUyz9Of\">pic.twitter.com\/PwrmUyz9Of<\/a><\/p>\n<p>\u2014 Santiment (@santimentfeed) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/santimentfeed\/status\/1420803584812146688?ref_src=twsrc%5Etfw\">July 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to data from Santiment, an on-chain and behavioral analysis platform, whale wallets have accumulated 130,000 BTC in the past four weeks as the price of Bitcoin traded below $35,000. <\/p>\n<p>With such heavy accumulation being seen in the lower $30,000 to $35,000 range, some analysts have suggested that whales may attempt to orchestrate another pullback in price so that they can continue to accumulate. <\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>Bitcoin bulls control Friday&#8217;s $1.7B monthly options expiry<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Long-term_cycles_offer_hope\"><\/span>Long-term cycles offer hope<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>When near-term confusion prevails, sometimes it&#8217;s best to take a step back to see the bigger picture of where the market is and what possibilities the future holds. <\/p>\n<p>According to Inmortal UP ONLY, a pseudonymous Twitter user, Bitcoin&#8217;s four-year cycle is currently about 65% through its bull-market phase and the trader predicts a top at $150,000, which will be followed by a correction to $32,000. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/3fa17d1f-ea8d-479b-9a05-a55480a04921.jpg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin price in four-year cycles. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/inmortalcrypto\/status\/1420797926427840518\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>For traders and holders that prefer to operate on a longer time scale, there remains plenty to be optimistic about in the future for and experienced market participants know the price moves seen over the past few months are part and parcel of the normal progression for Bitcoin. <\/p>\n<p>Further confirmation of the long-term perspective was offered by Ecoinometrics, who compared Bitcoin&#8217;s current post-halving price action to performances in the previous two halvings.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> after the Halving<br \/>Jul. 29, 2021<\/p>\n<p>443 days after the 3rd halving<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> at $39,973<\/p>\n<p>Catching up to the growth trajectory of the previous cycle will require a lot of juice. <\/p>\n<p>But we can hope this move is the start of a new leg up. <\/p>\n<p>So far so good. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/a12RYAhlsn\">pic.twitter.com\/a12RYAhlsn<\/a><\/p>\n<p>\u2014 ecoinometrics (@ecoinometrics) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ecoinometrics\/status\/1420766248221044736?ref_src=twsrc%5Etfw\">July 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As shown above, the current price of BTC is well below the average growth of previous cycles, indicating that the BTC has some \u201ccatching up to do\u201d if it will achieve a similar trajectory and reach a new all-time high above $100,000. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/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-traders-express-mixed-emotions-about-what-s-next-for-btc-price\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin traders express mixed emotions about what\u2019s next for BTC price &#8221; The rumor that Amazon would accept cryptocurrency payments sparked a wave of bullish enthusiasm across the crypto market earlier in the week but now this sentiment has begun to wane as Bitcoin (BTC) bulls face stiff resistance at the $40,000 level.\u00a0 Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":311599,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZDQxY2M0YWEtM2M0Yy00NjQ5LWE2MDUtNmI0NzM0ZDEyZjNjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,81951,78828,74937,74982,74863,75150,73785],"class_list":["post-311598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-halving","tag-bitcoin-price","tag-btc-markets","tag-cryptocurrencies","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311598","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=311598"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/311598\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/311599"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=311598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=311598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=311598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}