{"id":338606,"date":"2021-09-13T16:25:00","date_gmt":"2021-09-13T13:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed\/"},"modified":"2021-09-13T16:25:00","modified_gmt":"2021-09-13T13:25:00","slug":"bitcoin-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed\/","title":{"rendered":"# Bitcoin tests key level for $40K BTC price dip as altcoins bleed"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_89 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-6af2b0a0ca296\" 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-6af2b0a0ca296\" 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-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed\/#Bitcoin_threatens_loss_of_44000_%E2%80%9Cdemand_zone%E2%80%9D\" >Bitcoin threatens loss of $44,000 \u201cdemand zone\u201d<\/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-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed\/#Cardano_10_losses_lead_fresh_altcoin_rout\" >Cardano 10% losses lead fresh altcoin rout<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin tests key level for $40K BTC price dip as altcoins bleed <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) fell further at the start of the new week as a lack of bullish momentum sparked new lows near $44,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/e4d58d1a-d365-490a-85b8-9f152bde587f.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_threatens_loss_of_44000_%E2%80%9Cdemand_zone%E2%80%9D\"><\/span>Bitcoin threatens loss of $44,000 \u201cdemand zone\u201d<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 testing levels that analysts demand should stay as support.<\/p>\n<p>After a weekly close below both the key 50-day and 200-day moving averages, the pair looked increasingly less likely to reclaim them on shorter timeframes.<\/p>\n<p>For Cointelegraph contributor Micha\u00ebl van de Poppe, the bullish crossover of the two averages, known as a \u201cgolden cross,\u201d was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=Y6kKYw-GmUg\">still on the cards<\/a>. There was, however, \u201cno guarantee\u201d that bullish behavior would result from the event taking place.<\/p>\n<p>\u201cI think we\u2019re going to have a top of this cycle\u2026 next year, in April\u2013May,\u201d he forecast, giving a new, further-reaching timetable for BTC\/USD to see its cycle top.<\/p>\n<p>In the meantime, $44,000 and $47,000 form the support and resistance levels to watch for a continuation up and down, he added.<\/p>\n<p>For fellow trader and analyst Rekt Capital, $44,000 was equally important, forming the lower boundary of a \u201cdemand area\u201d among buyers.<\/p>\n<p>\u201cThe recent BTC Weekly Close wasn\u2019t technically bad as it occurred above the orange demand area. However, BTC is now dipping deeper into the demand area,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1437339762944319488\/\">commented<\/a> on an accompanying chart Monday.<\/p>\n<blockquote><p>\u201cThat said, this demand area still hasn\u2019t been lost. As long as the demand area holds, BTC won\u2019t see $40K.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/3554d489-5e50-4321-9925-749e1084a333.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week annotated candle chart (Coinbase). Source: Rekt Capital\/<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Cardano_10_losses_lead_fresh_altcoin_rout\"><\/span>Cardano 10% losses lead fresh altcoin rout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins fared worse than Bitcoin overnight, with the top 10\u00a0led by 11% 24-hour losses on Cardano (ADA), which fell to $2.41.<\/p>\n<p><strong><em>Related:\u00a0Bearish pennant breakdown confirmed? 5 things to watch in Bitcoin this week<\/em><\/strong><\/p>\n<p>The largest altcoin, Ether (ETH), shed 6%, while the sole saving grace for investors was Polkadot\u2019s DOT, which at the time of writing was clinging to 4% upside.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/7c638946-0521-4d73-a9db-fa7f6dd9ec9a.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>\u201cMany Altcoins have performed favourable Weekly Closes, indicating that retests should follow,\u201d Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1437374202105978880\">added<\/a> about the latest moves. <\/p>\n<blockquote><p>\u201cAt this time, the retests are failing, coins threatening to lose key supports. But it\u2019s early in the week. Could easily turn out to be normal retest volatility.\u201d<\/p><\/blockquote>\n<p>Trader Scott Melker, meanwhile,\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1437031267862818823\">soft-peddled<\/a>\u00a0concerns\u00a0about Bitcoin\u2019s failing market dominance, arguing that new altcoins were artificially diluting its stance.<\/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-tests-key-level-for-40k-btc-price-dip-as-altcoins-bleed\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin tests key level for $40K BTC price dip as altcoins bleed &#8221; Bitcoin (BTC) fell further at the start of the new week as a lack of bullish momentum sparked new lows near $44,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin threatens loss of $44,000 \u201cdemand zone\u201d Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":338607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvNDkyNDZkYWQtZmEyMS00YmQwLWEzMGMtZmM2ZDk3YTBlM2M1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,75378,82402,75168,73785],"class_list":["post-338606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-cardano","tag-ether-price","tag-polkadot","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/338606","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=338606"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/338606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/338607"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=338606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=338606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=338606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}