{"id":374052,"date":"2021-11-30T01:30:00","date_gmt":"2021-11-29T22:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\/"},"modified":"2021-11-30T01:30:00","modified_gmt":"2021-11-29T22:30:00","slug":"3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\/","title":{"rendered":"# 3 reasons why traders expect Bitcoin to retake $60K before November ends"},"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-6a3ad1da8ef98\" 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-6a3ad1da8ef98\" 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\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\/#A_60000_retest_is_%E2%80%9Con_the_horizon%E2%80%9D\" >A $60,000 retest is \u201con the horizon\u201d<\/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\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\/#BTC_is_set_up_for_a_strong_monthly_close\" >BTC is set up for a strong monthly close<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\/#Comparisons_to_previous_bull_cycles\" >Comparisons to previous bull cycles<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># 3 reasons why traders expect Bitcoin to retake $60K before November ends <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The cryptocurrency market saw a boost in sentiment after the price of Bitcoin (BTC) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/9ef96d68-4ab6-4df1-a53a-049bacd227b8.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hour chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s a look at what analysts and traders are saying about Nov. 29\u2019s price action and whether or not Bitcoin is likely to reclaim the $60,000 level.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_60000_retest_is_%E2%80%9Con_the_horizon%E2%80%9D\"><\/span>A $60,000 retest is \u201con the horizon\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin\u2019s sudden move to $58,000 may have had caught some traders off guard, but according to independent market analyst and Cointelegraph contributor Micha\u00ebl van de Poppe, the current price action is going as expected.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/4e04d4fa-cd8d-4ef7-bf3f-e092a6886c89.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 4-hour chart. Source: <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>According to van de Poppe, following Nov. 28\u2019s spike above $57,000, \u201cYou\u2019d preferably want to see a flip of the $56,000 area to be taking place\u201d to establish a higher support level, which would be followed by a further price breakout. <\/p>\n<p>Van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1465338695557517314\">said<\/a>:<\/p>\n<blockquote><p>\u201cIf 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, then I\u2019d assume a retest of $60,000 is on the horizon.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"BTC_is_set_up_for_a_strong_monthly_close\"><\/span>BTC is set up for a strong monthly close<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pseudonymous Twitter analyst \u201cRekt Capital,\u201d <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1465374405790474254\">suggested<\/a> that November\u2019s price action for BTC is a retest of the newly established support zone near $58,750. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/8a95acd5-85cc-42ec-8da0-ae4b7fc0a271.png\"><\/figure>\n<p>Similar bullish sentiments on Bitcoin\u2019s monthly price were shared by \u201cNunya Bizniz,\u201d who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pladizow\/status\/1465376719284625420\">posted<\/a> the following charts pointing out the key support levels to keep an eye on as the month of November comes to an end. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-11\/6e691bc9-f5f4-4d15-baa8-aab4f6de9aa2.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-month chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>The analyst said:<\/p>\n<blockquote><p>\u201cThe month closes tomorrow. A close above these two levels should be bullish.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Key data points suggest the crypto market\u2019s short-term correction is over<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Comparisons_to_previous_bull_cycles\"><\/span>Comparisons to previous bull cycles<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A look at how the current price movement seen in BTC compares with past bull markets was provided by analyst and pseudonymous Twitter user \u201cTechdev,\u201d who posted the following tweet looking at the price action for Bitcoin in 2017 as compared with now, as well as the 1970s price action for gold. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update on the 3 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> models I am currently tracking:<\/p>\n<p>1\u20e3 2017 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> anchored &amp; aligned from 1.272<br \/>Late Dec &#8211; $150K<\/p>\n<p>2\u20e3 2017 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> anchored &amp; aligned from 1.618<br \/>Early Feb &#8211; $200K<\/p>\n<p>3\u20e3 1970s Gold<br \/>Early Feb &#8211; $250K+<\/p>\n<p>December will be revealing and indicators will be key. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/1HEXlL5yus\">pic.twitter.com\/1HEXlL5yus<\/a><\/p>\n<p>\u2014 TechDev (@TechDev_52) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1465349665705140229?ref_src=twsrc%5Etfw\">November 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As discussed in the tweet, the current price projections place Bitcoin price at $150,000 by late December and $200,000 by early February 2022. The analyst further suggested that the price could potentially surpass $250,000 by early February 2022 if it follows a similar price pattern to that seen in gold in the 1970s. <\/p>\n<p>The overall cryptocurrency market capitalization now stands at $2.609 trillion, and Bitcoin\u2019s dominance rate is 42.1%.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, and you should conduct your own research when making a decision. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template>\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\/3-reasons-why-traders-expect-bitcoin-to-retake-60k-before-november-ends\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 3 reasons why traders expect Bitcoin to retake $60K before November ends &#8221; The cryptocurrency market saw a boost in sentiment after the price of Bitcoin (BTC) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend. BTC\/USDT 4-hour chart. Source: TradingView Here\u2019s&#8230;<\/p>\n","protected":false},"author":1,"featured_media":374053,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNGJmNGFlNDYtMWU1OC00OWU0LTg2NTYtZTczODhlZjc3YjQ4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,71835,73785],"class_list":["post-374052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-btc-markets","tag-cryptocurrencies","tag-market-update","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/374052","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=374052"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/374052\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/374053"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=374052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=374052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=374052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}