{"id":357050,"date":"2021-10-23T20:00:00","date_gmt":"2021-10-23T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-still-bullish-even-if-btc-price-drops-to-50k-analysis\/"},"modified":"2021-10-23T20:00:00","modified_gmt":"2021-10-23T17:00:00","slug":"bitcoin-still-bullish-even-if-btc-price-drops-to-50k-analysis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-still-bullish-even-if-btc-price-drops-to-50k-analysis\/","title":{"rendered":"# Bitcoin &#8216;still bullish&#8217; even if BTC price drops to $50K \u2014 analysis"},"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-6a3f97c9c42c3\" 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-6a3f97c9c42c3\" 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-still-bullish-even-if-btc-price-drops-to-50k-analysis\/#%E2%80%9CNo_significant_evidence%E2%80%9D_for_50000_retest\" >&#8220;No significant evidence&#8221; for $50,000 retest<\/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-still-bullish-even-if-btc-price-drops-to-50k-analysis\/#The_math_strengthens_bulls_resolve\" >The math strengthens bulls&#8217; resolve<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin &#8216;still bullish&#8217; even if BTC price drops to $50K \u2014 analysis <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) can return to $50,000 and still not violate an overall &#8220;bullish thesis&#8221; after breaking all-time highs, fresh research argues.<\/p>\n<p>In its latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/decentrader.com\/market_updates\/bitcoin-market-update-all-time-highs-now-what\/\">market update<\/a> on Oct. 22, crypto trading platform Decentrader argued that after hitting and retracing from $67,000, there was no reason to be bearish on Bitcoin.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CNo_significant_evidence%E2%80%9D_for_50000_retest\"><\/span>&#8220;No significant evidence&#8221; for $50,000 retest<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After Bitcoin cracked an all-time high in place for six months, concerns grew as a correction took place that erased 10% of its gains in a single day.<\/p>\n<p>After two dips below $60,000, analysts nonetheless have stuck to their previous optimism for the comings weeks and months. Decentrader&#8217;s Filbfilb is no exception.<\/p>\n<p>&#8220;We have been tracking a Bitcoin fractal pattern for a number of weeks now, which, if it continues, would imply to play out, that the next major stop higher for Bitcoin would be $72k if momentum can be maintained, after which the 1.618 extensions suggests around $88k would prove to be a target of interest, which ties in with the idea that $100k will see some front running by sellers,&#8221; he summarized.<\/p>\n<p>He pointed to cooling funding rates, increased exposure from Bitcoin futures ETFs and strong buyer support as all being conducive to further upside.<\/p>\n<p>The weekend, which typically sees thinner markets, could produce a surprise move up or down, however, with an uptick likely meeting resistance at $65,000 \u2014 the old high.<\/p>\n<p>Filbfilb also revealed that he was primed for a potential deeper BTC price dip \u2014 one which would still need to try extremely hard to break his bullish conviction<\/p>\n<p>&#8220;If there is a significant reversal and break in structure, $50k will be a significant area of interest to us,&#8221; he added.<\/p>\n<blockquote><p>&#8220;Although there is no significant evidence of this now, we are prepared for an opportunity, should it present itself. Even if prices do retrace to these levels, it does not break our overall bullish thesis.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/4d3a6752-1507-4544-9a9e-6a116f722c0d.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=\"The_math_strengthens_bulls_resolve\"><\/span>The math strengthens bulls&#8217; resolve<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As with other recent findings, Fibonacci levels continue to play a key role in assessing likely future price points in an up or down market phase.<\/p>\n<p><strong><em>Related:\u00a0Need some Bitcoin \u2018hopium?\u2019 This chart calls for new BTC price all-time high by November<\/em><\/strong><\/p>\n<p>Bitcoin has historically had its macro cycle peaks rooted in Fib sequences, which opens the door to hitting $300,000 this time around.<\/p>\n<p>Similarly, the next bear market from such highs should bottom out at around current levels, with the worst case scenario at just below $50,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-10\/0656142b-eb0f-4ad9-8fb4-15d9fb1cd7f0.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD chart with Fibonacci levels highlighted. Source: Decentrader<\/em><\/figcaption><\/figure>\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-still-bullish-even-if-btc-price-drops-to-50k-analysis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin &#8216;still bullish&#8217; even if BTC price drops to $50K \u2014 analysis &#8221; Bitcoin (BTC) can return to $50,000 and still not violate an overall &#8220;bullish thesis&#8221; after breaking all-time highs, fresh research argues. In its latest market update on Oct. 22, crypto trading platform Decentrader argued that after hitting and retracing from $67,000,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":357051,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTAvZTYwZjhiYTEtZTE3NC00NzU3LTg5YzYtZDY2N2RlYjRkM2I4LmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-357050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/357050","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=357050"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/357050\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/357051"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=357050"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=357050"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=357050"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}