{"id":352728,"date":"2021-10-14T11:38:01","date_gmt":"2021-10-14T08:38:01","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction\/"},"modified":"2021-10-14T11:38:01","modified_gmt":"2021-10-14T08:38:01","slug":"bitcoin-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction\/","title":{"rendered":"# Bitcoin analyst \u2018highly doubts\u2019 return to $50K \u2014 Will the weekly close spark a correction?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a2f4ef62a3cb\" 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-6a2f4ef62a3cb\" 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-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction\/#Bitcoin_%E2%80%9Cdips%E2%80%9D_to_near_57000\" >Bitcoin \u201cdips\u201d to near $57,000<\/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-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction\/#Polkadot_breakout_headlines_altcoin_return\" >Polkadot breakout headlines altcoin return<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin analyst \u2018highly doubts\u2019 return to $50K \u2014 Will the weekly close spark a correction? <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) challenged brand-new support levels on Oct. 14 after overnight successes took the market past $58,000\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/50fc54a0-dd80-42ea-b13c-91d192913da2.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_%E2%80%9Cdips%E2%80%9D_to_near_57000\"><\/span>Bitcoin \u201cdips\u201d to near $57,000<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>\u00a0tracked BTC\/USD as it reversed toward $57,000 after hitting highs of $58,540 on Bitstamp.<\/p>\n<p>The moves mimicked the first time Bitcoin had attacked $58,000 in February \u2014 several attempts interspersed by consolidation, followed ultimately by a run to April\u2019s all-time highs.<\/p>\n<p>Despite on-chain indicators showing that Bitcoin is a different beast in Q4, however, the mood was just as bullish this time around.<\/p>\n<p>\u201cBitcoin is most likely just continuing this grind towards the all-time highs,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptomichnl\/status\/1448555039585443843\">wrote<\/a> in his latest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> update. <\/p>\n<blockquote><p>\u201cGreat bounce from $54K. Highly doubt we\u2019ll see a retest at $50K 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>ening.\u201d<\/p><\/blockquote>\n<p>Cementing $50,000 as support \u2014 albeit for a second time in 2021 \u2014 would form a clear signal on the market trajectory as pundits gear up for what they expect to be an explosive end to the year.<\/p>\n<p>For trader and analyst Rekt Capital, however, there was a potential cause for concern this week. Zooming out, BTC\/USD has failed to close a weekly candle above $60,000, and a repeat performance could likewise spell a copycat correction.<\/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> has successfully retested its Daily Bull Flag thus far<\/p>\n<p>But Bitcoin is still below major Weekly resistance (red)<\/p>\n<p>In fact, any sort of Weekly Close below $60000 has historically preceded a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> retrace from these highs<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\/n9vFaaalVM\">pic.twitter.com\/n9vFaaalVM<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1448338538102149131?ref_src=twsrc%5Etfw\">October 13, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>That leaves bulls until Sunday to crack a historical watermark, something which may still be helped before Monday\u2019s approval decision on a futures-based exchange-traded fund.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Polkadot_breakout_headlines_altcoin_return\"><\/span>Polkadot breakout headlines altcoin return<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins, meanwhile, saw brief respite from weakness in the face of \u201cBitcoin season.\u201d<\/p>\n<p><strong><em>Related:\u00a0Price analysis 10\/13: BTC, ETH, BNB, ADA, XRP, SOL, DOGE, DOT, LUNA, UNI<\/em><\/strong><\/p>\n<p>The exception was Polkadot\u2019s DOT, up 28% in a week on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> that its auctions would finally begin next month \u2014 a key original feature five years in the making.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/5b750651-6caf-4406-91d8-a7e882426a67.png\"><figcaption style=\"text-align: center;\"><em>DOT\/USD 1-hour candle chart (Kraken). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The largest altcoin, Ether (ETH), managed 5.3% daily gains, with all of the top 10 cryptocurrencies by market capitalization trading higher on the day as Bitcoin slowed.<\/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 News 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-analyst-highly-doubts-return-to-50k-will-the-weekly-close-spark-a-correction\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin analyst \u2018highly doubts\u2019 return to $50K \u2014 Will the weekly close spark a correction? &#8221; Bitcoin (BTC) challenged brand-new support levels on Oct. 14 after overnight successes took the market past $58,000\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin \u201cdips\u201d to near $57,000 Data from Cointelegraph Markets Pro and TradingView\u00a0tracked BTC\/USD as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":352729,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvZTBmOWZiYmQtYWU1Mi00NzI3LWI2MzktMzllZmVhNzRhY2RlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,75168,73785],"class_list":["post-352728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-polkadot","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/352728","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=352728"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/352728\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/352729"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=352728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=352728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=352728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}