{"id":314169,"date":"2021-08-03T11:35:19","date_gmt":"2021-08-03T08:35:19","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next\/"},"modified":"2021-08-03T11:35:19","modified_gmt":"2021-08-03T08:35:19","slug":"bitcoin-price-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next\/","title":{"rendered":"# Bitcoin price dips below $38K, with bullish traders eyeing a new higher low next"},"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-6a3b72e6d0c27\" 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-6a3b72e6d0c27\" 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-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next\/#Caution_before_BTCs_price_swings_lower\" >Caution before BTC\u2019s price swings lower<\/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-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next\/#Analyst_Bitcoin_retrace_%E2%80%9Chas_happened%E2%80%9D\" >Analyst: Bitcoin retrace \u201chas happened\u201d<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price dips below $38K, with bullish traders eyeing a new higher low next <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>\n<p>Bitcoin (BTC) briefly fell below $38,000 on Tuesday as signs of a retracement from range highs continued to flow in.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/c6f27f1b-093a-4d5f-a519-e13978856733.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=\"Caution_before_BTCs_price_swings_lower\"><\/span>Caution before BTC\u2019s price swings lower<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> showed BTC\/USD t<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>ing $37,960 on Bitstamp before rebounding.<\/p>\n<p>Still trading 3.7% lower on the day, the pair had come off local highs above $42,500 on the weekend amid concerns over regulatory moves from the United States this week.<\/p>\n<p>As Cointelegraph reported, analysts were already hoping that a correction would take Bitcoin several thousand dollars lower in order to create a higher low, from which it could continue its upside.<\/p>\n<p>The target zone, lying around $36,000, was now key to hold in order to prevent what trader Pentoshi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1422184614664286219\/\">called<\/a> \u201cworst case scenarios.\u201d<\/p>\n<p>\u201cDeviations wrecking those people who don\u2019t plan for them,\u201d he warned <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers alongside a chart showing key price levels. <\/p>\n<blockquote><p>\u201cI\u2019ll bid on range high reclaim OR in the grey box for a HL. If we fall below the mid range and start closing below then you need to plan for some worst case scenarios. These are my only two triggers for a long (at the moment).\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/6a873574-d56d-4552-b4af-7dc5e4461e0f.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD target chart. Source: Pentoshi\/Twitter<\/em><\/figcaption><\/figure>\n<p>Exchange levels differed only slightly from that hypothesis on Tuesday, with major support lingering at $35,000 on Binance.<\/p>\n<p>Resistance was in place at $41,000, with the range high of $42,500 now of major interest among sellers.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/c6093a83-1f53-4455-a768-65b041136daa.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) as of Aug. 3. Source: Material Indicators\/Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Bitcoin_retrace_%E2%80%9Chas_happened%E2%80%9D\"><\/span>Analyst: Bitcoin retrace \u201chas happened\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Zooming out, meanwhile, fellow trader and analyst Rekt Capital has found sense in longer-term price action, potentially reinforcing $29,000 as a floor.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 8\/2: BTC, ETH, BNB, ADA, XRP, DOGE, DOT, UNI, BCH, LINK<\/em><\/strong><\/p>\n<p>On a yearly timeframe within four-year cycles, $29,000 has provided support in 2021, placing post-halving behavior firmly in historical context.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> retrace has happened<\/p>\n<p>Instead of occurring in Q1 however, it took place in mid-Q2<\/p>\n<p>In any case, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> rebounded from a key Four Year Cycle level:<\/p>\n<p>\u2022 ~$29,000 (black)<\/p>\n<p>Essentially, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> turned Candle 4 resistance into new Candle 1 support<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\/P700exoAae\">https:\/\/t.co\/P700exoAae<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GxSuMEUjHK\">pic.twitter.com\/GxSuMEUjHK<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1422209433397088256?ref_src=twsrc%5Etfw\">August 2, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Others had also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/100trillionUSD\/status\/1421919714624872451\">taken heart<\/a> from Bitcoin\u2019s July turnaround and monthly close, among them stock-to-flow price model creator PlanB.<\/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><\/p>\n<\/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-dips-below-38k-with-bullish-traders-eyeing-a-new-higher-low-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price dips below $38K, with bullish traders eyeing a new higher low next &#8221; Bitcoin (BTC) briefly fell below $38,000 on Tuesday as signs of a retracement from range highs continued to flow in. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Caution before BTC\u2019s price swings lower Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":314170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMzEyMGIxMWItNTllYi00MzAwLTkyNDUtMzgyZTBlYjgwOWU0LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-314169","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\/314169","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=314169"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/314169\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/314170"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=314169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=314169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=314169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}