{"id":370347,"date":"2021-11-21T18:35:00","date_gmt":"2021-11-21T15:35:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close\/"},"modified":"2021-11-21T18:35:00","modified_gmt":"2021-11-21T15:35:00","slug":"bitcoin-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close\/","title":{"rendered":"# Bitcoin avoids recent lows as BTC price eyes $60K into the 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-6a403407d86b2\" 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-6a403407d86b2\" 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-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close\/#BTC_challenges_60000\" >BTC challenges $60,000<\/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-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close\/#Ethereum_Avalanche_lead_a_slow_altcoin_market\" >Ethereum, Avalanche lead a slow altcoin market<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin avoids recent lows as BTC price eyes $60K into the weekly close  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/76d83362-1cdc-4fd3-af0b-53feb8cc6734.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=\"BTC_challenges_60000\"><\/span>BTC challenges $60,000<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\/?exchange=BITSTAMP\">TradingView<\/a>\u00a0showed BTC\/USD almost hitting $60,000 before consolidating in a new higher range after sudden gains Saturday evening.<\/p>\n<p>The pair had hit lows of $55,650 during the week, these marking its lowest point in over a month, but further retests failed to materialize as sentiment improved.<\/p>\n<p>Adopting a calmer perspective into the weekly close, analysts thus looked to the long term to understand the overall health of the market.<\/p>\n<p>&#8220;Since breaking its black 200-day EMA, BTC rallied to new All Time Highs. Still over +50% above the 200 EMA, despite the recent retrace from ATHs,&#8221; Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1462374674130735107\">summarized<\/a> on the day. <\/p>\n<blockquote><p>&#8220;Long-term investor sentiment is still bullish towards Bitcoin.&#8221;\u00a0<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/c34f96fd-af87-458f-bf96-ea694c0c1080.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp) with 200-day moving average (EMA). 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<p>On-chain metrics supported the reasoned view, with the Crypto Fear &amp; Greed Index in neutral territory at just below $60,000.<\/p>\n<p>Network fundamentals were similarly unfazed by the week&#8217;s events with the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/miningpoolstats.stream\/bitcoin\">hash rate<\/a> staying near all-time highs and difficulty still on track to rise modestly at the next readjustment due Nov. 27.<\/p>\n<p>Fellow trader Pentoshi meanwhile identified the area between $59,000 and $61,000 as the point at which it would be prudent to reenter with spot longs should that area be successfully reclaimed.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gave local top and bottom on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> <\/p>\n<p>How I plan to trade it. Looking for LH from here to 4570. *IF* 4570 is flipped then 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>y to buy back higher<\/p>\n<p>Playing for LH and a 2nd leg down to 36xx<\/p>\n<p>Same with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> looking for 59-61. If reclaim = buy back otherwise looking for LH<\/p>\n<p>If = then <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/judmSGFoIu\">https:\/\/t.co\/judmSGFoIu<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/OhyBcpH7uN\">pic.twitter.com\/OhyBcpH7uN<\/a><\/p>\n<p>\u2014 Pentoshi Won\u2019t Dm You. hates Dm\u2019s. DM&#8217;s are scams (@Pentosh1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1461746499038154755?ref_src=twsrc%5Etfw\">November 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Overall, super cycle and lengthening cycle for Bitcoin is still the case,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1462361794786336768\">added<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_Avalanche_lead_a_slow_altcoin_market\"><\/span>Ethereum, Avalanche lead a slow altcoin market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On the topic of altcoins, Ether (ETH) constituted one of the most solid performers out of the top-10 cryptocurrencies by market cap Sunday, amid broadly flat action.\u00a0<\/p>\n<p><strong><em>Related:\u00a03 reasons why Bitcoin\u2019s drop to $56.5K may have been the local bottom<\/em><\/strong><\/p>\n<p>ETH\/USD traded up 2.3% at the time of writing, while outlier Avalance (AVAX) delivered 12% returns over 24 hours and entering the top-10 for the first time to push out Dogecoin (DOGE).<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/d6a6f5e8-1353-402e-8bab-bc9761241321.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Despite Saturday&#8217;s abrupt upturn, BTC\/USD was still around 1.8% higher.<\/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 <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-avoids-recent-lows-as-btc-price-eyes-60k-into-the-weekly-close\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin avoids recent lows as BTC price eyes $60K into the weekly close &#8221; Bitcoin (BTC) hovered near $59,000 as Nov. 21 came to a close after avoiding a retest of its recent lows. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC challenges $60,000 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD almost hitting&#8230;<\/p>\n","protected":false},"author":1,"featured_media":370348,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvYTEyNGZjM2EtYTQwYi00YTg3LWJlNTYtNzhkNjNmYWMzOTZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-370347","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\/370347","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=370347"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/370347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/370348"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=370347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=370347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=370347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}