{"id":316846,"date":"2021-08-06T13:53:28","date_gmt":"2021-08-06T10:53:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs\/"},"modified":"2021-08-06T13:53:28","modified_gmt":"2021-08-06T10:53:28","slug":"bitcoin-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs\/","title":{"rendered":"# Bitcoin and Ethereum hit resistance with $42.5K flip needed for BTC longs"},"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-6a3df4d6eb45c\" 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-6a3df4d6eb45c\" 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-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs\/#Buy_into_resistance_%E2%80%9CNot_interested%E2%80%9D\" >Buy into resistance? &#8220;Not interested&#8221;<\/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-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs\/#No_hint_of_long-term_bearishness\" >No hint of long-term bearishness<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin and Ethereum hit resistance with $42.5K flip needed for BTC longs <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) and Ether (ETH) are due a &#8220;huge&#8221; move but short-term signals suggest a correction, an analyst warned Aug. 6.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/907f2364-1614-4195-964b-12662ad18703.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=\"Buy_into_resistance_%E2%80%9CNot_interested%E2%80%9D\"><\/span>Buy into resistance? &#8220;Not interested&#8221;<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\/ETHUSD\/\">TradingView<\/a>\u00a0showed both BTC\/USD and ETH\/USD acting near critical range resistance as the week drew to a close.<\/p>\n<p>A late surge the day before punctuated an overall downtrend after swift upside throughout the previous week, but Friday reinforced the idea that longer-term resistance would remain in place.<\/p>\n<p>In his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=6sYEP2Ansq0\">video update<\/a>, Cointelegraph contributor Michael van de Poppe highlighted an area above $42,500 as necessary to reclaim in order to seek long BTC positions.<\/p>\n<p>&#8220;I refuse to become bullish on Bitcoin at this stage unless we are able to flip this level for support,&#8221; he said.<\/p>\n<blockquote><p>&#8220;If we have a breakout like this in which we rally towards $45,000 and flip this zone, then of course I&#8217;m going to look for longs, but right now in this structure I&#8217;m not interested at all.&#8221;<\/p><\/blockquote>\n<p>A similar story held true for ETH\/USD, also at resistance, with little evidence that the buzz around the London hard fork would spark a definitive change in the longer-term paradigm.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/cf4d4bad-afc1-4441-84c1-dbe6cee55c50.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>At the time of writing, Bitcoin focused on $40,500, with Ethereum on $2,740, down from highs of $2,845 on Bitstamp.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"No_hint_of_long-term_bearishness\"><\/span>No hint of long-term bearishness<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Others were slightly more optimistic, with fellow trader and analyst Rekt Capital arguing that Bitcoin was doing &#8220;everything right&#8221; in order to ditch its previous price range in place since May.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> is doing everything right to confirm a breakout from its ~$29000-$39000 Weekly range<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/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:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/VVSi78cLRQ\">pic.twitter.com\/VVSi78cLRQ<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1423563412919959555?ref_src=twsrc%5Etfw\">August 6, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph reported, a close above $40,000 in time for Friday&#8217;s options expiry would boost the bull case.<\/p>\n<p>Ether, on the other hand, already looked set to add to bulls&#8217; clout with its own $357 million expiry event the same day.<\/p>\n<p><strong><em>Related:\u00a0BREAKING: White House confirms support for minor changes to crypto tax proposal<\/em><\/strong><\/p>\n<p>As ever, the longer the timeframe, the more bullish the take.\u00a0<\/p>\n<p>&#8220;Next price discovery will be wild,&#8221; fellow trader Pentoshi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1423352390120509440\">forecast<\/a> Thursday. Should BTC\/USD manage to break its current $64,500 all-time highs, he said, $250,000 could follow.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1423352390120509440\/photo\/1\"><\/a><\/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-and-ethereum-hit-resistance-with-42-5k-flip-needed-for-btc-longs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin and Ethereum hit resistance with $42.5K flip needed for BTC longs &#8221; Bitcoin (BTC) and Ether (ETH) are due a &#8220;huge&#8221; move but short-term signals suggest a correction, an analyst warned Aug. 6. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Buy into resistance? &#8220;Not interested&#8221; Data from Cointelegraph Markets Pro and TradingView\u00a0showed both&#8230;<\/p>\n","protected":false},"author":1,"featured_media":316847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvZDYyYjgyODctMGZhOC00YmVkLTkxN2QtNjQzNDFiNzJiOGFhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,82402,74891,75150,73785],"class_list":["post-316846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/316846","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=316846"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/316846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/316847"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=316846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=316846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=316846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}