{"id":331567,"date":"2021-08-28T12:12:14","date_gmt":"2021-08-28T09:12:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k\/"},"modified":"2021-08-28T12:12:14","modified_gmt":"2021-08-28T09:12:14","slug":"bitcoin-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k\/","title":{"rendered":"# Bitcoin in line for &#8216;phenomenal&#8217; weekly close if BTC price holds $49K"},"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-6a40fc3277ceb\" 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-6a40fc3277ceb\" 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-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k\/#All_eyes_on_49300_on_the_weekly_chart\" >All eyes on $49,300 on the weekly chart<\/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-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k\/#Cardano_bulls_back_in_action_as_altcoins_wake_up\" >Cardano bulls back in action as altcoins wake up<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin in line for &#8216;phenomenal&#8217; weekly close if BTC price holds $49K <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) held $49,000 on Aug. 28 after the United States Federal Reserve sparked a run-up toward critical resistance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/ab85541c-c9ab-4fde-90df-ecf89a8f61d8.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=\"All_eyes_on_49300_on_the_weekly_chart\"><\/span>All eyes on $49,300 on the weekly chart<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 BTC\/USD cooling at higher levels after cracking the $49,000 mark late Friday.<\/p>\n<p>The end of the working week had seen a positive reaction to comments from Fed Chair Jerome Powell on tapering of asset purchases, as well as remarks on inflation.<\/p>\n<p>As Cointelegraph reported, stocks surged to all-time highs, while the U.S. dollar weakened \u2014 Bitcoin made use of the opportunity and added $1,500 in under an hour.<\/p>\n<p>With talk of a new &#8220;bullish impulse&#8221; move afoot on crypto markets, the mood into the weekend was thus far from bearish.<\/p>\n<p>&#8220;If BTC is able to stay above the ~$49000 level for the rest of the week&#8230; It would set itself up for a phenomenal Weekly Close,&#8221; trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1431399201913679877\">summarized<\/a>.<\/p>\n<p>That weekly close had a solid chance of beating the last at the time of writing, with $49,300 the level to clinch for a multi-month high.<\/p>\n<p>That would also place Bitcoin back in the tiny two-month window in which it closed above $49,000 on the weekly chart earlier this year.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/27dcd395-47ae-4a2d-be81-514d3e5461c2.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;Should be pretty obvious where Bitcoin is heading,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> account Ryan Cantering Clark <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1431419552357830658\">added<\/a>.<\/p>\n<p>A look at buy and sell levels on major exchange Binance on the day meanwhile revealed a support line slowly building at around $48,800, forming a close stand-off with sellers just below $50,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/60d3922c-bf14-4924-a695-45ff2223ec72.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD buy and sell levels (Binance) as of Aug. 28. Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Cardano_bulls_back_in_action_as_altcoins_wake_up\"><\/span>Cardano bulls back in action as altcoins wake up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins meanwhile mostly benefited from renewed strength in Bitcoin.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 8\/27: BTC, ETH, ADA, BNB, XRP, DOGE, DOT, SOL, UNI, LUNA<\/em><\/strong><\/p>\n<p>With the exception of a flat Binance Coin (BNB), the top ten cryptocurrencies by market cap saw solid 24-hour gains.<\/p>\n<p>Cardano (ADA) bulls\u00a0led the advance, ADA\/USD climbing almost 10% to $2.85 and making up for much of its recently lost ground after hitting all-time highs. Solana (SOL) continued upwards after its own record high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/b9c7bdbe-3222-41cf-a4a7-e4c7994b816a.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Ether (ETH) was at $3,240, having increased by a more modest 4% and still down 1.5% versus the same time last week.<\/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\/bitcoin-in-line-for-phenomenal-weekly-close-if-btc-price-holds-49k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin in line for &#8216;phenomenal&#8217; weekly close if BTC price holds $49K &#8221; Bitcoin (BTC) held $49,000 on Aug. 28 after the United States Federal Reserve sparked a run-up toward critical resistance. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView All eyes on $49,300 on the weekly chart Data from Cointelegraph Markets Pro and TradingView\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":331568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMjBhNzhlYzAtMTA2Mi00YWUxLTk1MDItMWFlMTE0MTI1MGFkLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,75150,73785],"class_list":["post-331567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331567","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=331567"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/331567\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/331568"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=331567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=331567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=331567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}