{"id":367712,"date":"2021-11-16T10:13:50","date_gmt":"2021-11-16T07:13:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests\/"},"modified":"2021-11-16T10:13:50","modified_gmt":"2021-11-16T07:13:50","slug":"will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests\/","title":{"rendered":"# Will Bitcoin hold $60K? Leverage shakeout &#8216;close to complete,&#8217; data suggests"},"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-6af14f61a25a3\" 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-6af14f61a25a3\" 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\/will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests\/#Bitcoin_finally_closes_large_CME_gap\" >Bitcoin finally closes large CME gap<\/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\/will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests\/#Whats_in_a_month\" >What&#8217;s in a month?<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Will Bitcoin hold $60K? Leverage shakeout &#8216;close to complete,&#8217; data suggests <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) extended its slide on Nov. 16 as BTC price action returned to test $60,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/e7a8b160-f334-4bac-a8be-99cead3ad7ac.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_finally_closes_large_CME_gap\"><\/span>Bitcoin finally closes large CME gap<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\/?exchange=BITSTAMP\">TradingView<\/a>\u00a0showed BTC\/USD coming down 8% from Monday&#8217;s local highs above $66,000.<\/p>\n<p>Bouncing at $60,350 on Bitstamp, the pair nonetheless traded at its lowest since Nov. 6. <\/p>\n<p>As leveraged traders felt the pain, optimism remained that the &#8220;shakeout&#8221; of positions on derivatives exchanges was nearing completion, with a resumption of upside taking over thereafter.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Leverage shakeout close to complete<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rQyfaT8HUd\">pic.twitter.com\/rQyfaT8HUd<\/a><\/p>\n<p>\u2014 Dylan LeClair  (@DylanLeClair_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1460418625261740033?ref_src=twsrc%5Etfw\">November 16, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Bitcoin further managed to close a CME futures gap in place for over a week, a classic move that had been anticipated from the moment the gap <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>eared.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/000b2206-5868-49e3-b732-1039ce1476ad.png\"><figcaption style=\"text-align: center;\"><em>CME Bitcoin futures 1-hour candle chart showing gap. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>While previous arguments even favored a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to $59,000, however, the chances of a drop below $60,000 remained at the time of writing.\u00a0<\/p>\n<p>Trader Peter Brandt, eyeing potential buying opportunities, revealed a desired entry level of closer to $50,000.<\/p>\n<p>&#8220;I am interested in buying BTC around $53,000 and ETH around $4,030,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1460311743125602304\">said<\/a> as part of <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> comments.<\/p>\n<p>He stressed that he was &#8220;not a bear&#8221; and did not necessarily expect Bitcoin to fall to those levels.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whats_in_a_month\"><\/span>What&#8217;s in a month?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Others meanwhile zoomed out on BTC, in a month which has been defined by all-time highs and the associated volatility.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin has stalled, but here\u2019s why pro traders still expect $80K by January<\/em><\/strong><\/p>\n<p>A return to monthly support, for example, would still place Bitcoin at $58,000.<\/p>\n<p>&#8220;If BTC is to go for a retest attempt of the Monthly level (green)&#8230; It would need to break down from this black uptrend line,&#8221; fellow trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1460305682369069058\">commented<\/a>\u00a0on an explanatory chart showing the levels on Monday.<\/p>\n<blockquote><p>&#8220;Losing this trendline would probably confirm that this Monthly retest will happen. Until then, just consolidation volatility.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/15d90bcb-dc4f-45a2-9a15-d6e36fdf8b5b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day annotated candle chart (Bitstamp). Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/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\/will-bitcoin-hold-60k-leverage-shakeout-close-to-complete-data-suggests\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Will Bitcoin hold $60K? Leverage shakeout &#8216;close to complete,&#8217; data suggests &#8221; Bitcoin (BTC) extended its slide on Nov. 16 as BTC price action returned to test $60,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin finally closes large CME gap Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD coming down 8% from Monday&#8217;s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":367713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDYvNzQ0MzFmNzAtYjhkZC00ZGYzLTg0ZGMtNGEyYTVlODhkZWZmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-367712","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\/367712","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=367712"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/367712\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/367713"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=367712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=367712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=367712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}