{"id":344130,"date":"2021-09-25T12:10:13","date_gmt":"2021-09-25T09:10:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close\/"},"modified":"2021-09-25T12:10:13","modified_gmt":"2021-09-25T09:10:13","slug":"bitcoin-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close\/","title":{"rendered":"# Bitcoin volatility continues as BTC price closes in on critical weekly close"},"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-6a3ab61606417\" 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-6a3ab61606417\" 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-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close\/#Trader_Bitcoin_%E2%80%9Cfine%E2%80%9D_above_38000\" >Trader: Bitcoin &#8220;fine&#8221; above $38,000<\/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-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close\/#Crypto_market_cap_lines_up_broad_support_retest\" >Crypto market cap lines up broad support retest<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin volatility continues as BTC price closes in on critical weekly close <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) briefly fell below $42,000 on Sept. 25 as the weekend looked set to deliver an unimpressive weekly close.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/cabf6fa8-107e-4ed9-94fe-7444051cfe18.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=\"Trader_Bitcoin_%E2%80%9Cfine%E2%80%9D_above_38000\"><\/span>Trader: Bitcoin &#8220;fine&#8221; above $38,000<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>\u00a0showed BTC\/USD losing $1,000 in just over an hour during Saturday before rebounding.<\/p>\n<p>The weekend had started with the pair at around $43,000 \u2014 a critical level some say should hold as the weekly close looms.<\/p>\n<p>Others argue that lower price action would also be suitable for Bitcoin in the aftermath of Friday&#8217;s volatility, with $36,000-$38,000 the cut-off point for bulls.<\/p>\n<p>Among them is Cointelegraph contributor Micha\u00ebl van de Poppe.<\/p>\n<p>&#8220;The critical level for Bitcoin is still the same, which is between $38-40K I&#8217;d prefer to see the level hold,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1441477544277073923\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers late Friday. <\/p>\n<blockquote><p>&#8220;If that h<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>ens, everything is fine.&#8221;<\/p><\/blockquote>\n<p>Among commentators, the China &#8220;ban&#8221; story still dominated the debate, this roping in the industry&#8217;s best-known names after a kneejerk reaction from nervous traders sent cryptocurrencies tumbling.<\/p>\n<p> Despite the chaos, nothing from China had really changed, with the government repeating its existing position. As Cointelegraph noted, when the &#8220;ban&#8221; initially began in September 2017, Bitcoin conversely saw a new all-time high just three months later.<\/p>\n<p>&#8220;Nothing has created more wealth in the past decade than technologies banned in China,&#8221; Michael Saylor, CEO of MicroStrategy, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1441389129665818626\">claimed<\/a>.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">BTC Price change 60d pre and post prior China &#8220;ban&#8221; events <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uyGTxB9iuJ\">pic.twitter.com\/uyGTxB9iuJ<\/a><\/p>\n<p>\u2014 Jon Geenty (@geenty) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/geenty\/status\/1441403448562388994?ref_src=twsrc%5Etfw\">September 24, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Jon Geenty, a data scientist at analytics firm CoinMetrics, meanwhile produced a comparative chart showing how Bitcoin performs after each China &#8220;ban&#8221; story. Contrary to fears, BTC price action has in fact stabilized after such events.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_market_cap_lines_up_broad_support_retest\"><\/span>Crypto market cap lines up broad support retest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The outlook for altcoins remained bleak on the day, thanks to Bitcoin doubling down on lower levels.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 9\/24: BTC, ETH, ADA, BNB, XRP, SOL, DOT, DOGE, AVAX, LUNA<\/em><\/strong><\/p>\n<p>Ether (ETH) stood at around $2,825, near the essential $2,800 support level for bulls, while most of the top ten cryptocurrencies by market cap lost 6-7% on the day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/613902db-6244-4427-8c2d-045b784c81df.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;Altcoin market capitalization also on crucial level here,&#8221; Van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1441602105144451072\">warned<\/a>, adding that the total crypto market cap could still see a &#8220;beautiful retest&#8221; of support on its weekly close.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1441602105144451072\/photo\/1\"><\/a><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Total market capitalization for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> making a beautiful retest here?<\/p>\n<p>Depending on the weekly, but crucial level. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/JcK1zDo22m\">pic.twitter.com\/JcK1zDo22m<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1441564356769054731?ref_src=twsrc%5Etfw\">September 25, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><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-volatility-continues-as-btc-price-closes-in-on-critical-weekly-close\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin volatility continues as BTC price closes in on critical weekly close &#8221; Bitcoin (BTC) briefly fell below $42,000 on Sept. 25 as the weekend looked set to deliver an unimpressive weekly close. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: Bitcoin &#8220;fine&#8221; above $38,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD losing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":344131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvZWI3NjA5ZTEtNWI3ZC00NjljLWE1NmQtN2FkZjU2M2E2ODEyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-344130","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344130","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=344130"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/344130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/344131"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=344130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=344130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=344130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}