{"id":375369,"date":"2021-12-02T12:47:54","date_gmt":"2021-12-02T09:47:54","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast\/"},"modified":"2021-12-02T12:47:54","modified_gmt":"2021-12-02T09:47:54","slug":"bitcoin-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast\/","title":{"rendered":"# Bitcoin tests traders\u2019 nerves as analyst reissues $400K BTC price forecast"},"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-6a23a0ee1b8e3\" 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-6a23a0ee1b8e3\" 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-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast\/#%E2%80%9CNothing_has_changed%E2%80%9D\" >\u201cNothing has changed\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\/bitcoin-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast\/#Open_interest_stays_near_all-time_highs\" >Open interest stays near all-time highs<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin tests traders\u2019 nerves as analyst reissues $400K BTC price forecast <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) was on repeat on Dec. 2 as markets watched another attack on $60,000 end in defeat.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/9d252b82-a878-48bb-9524-1213f43b0723.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=\"%E2%80%9CNothing_has_changed%E2%80%9D\"><\/span>\u201cNothing has changed\u201d<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> showed BTC\/USD back at $57,000 Thursday, having come full circle in 24 hours.<\/p>\n<p>The pair had briefly hit $59,000 into the Wall Street open the day prior, this failing to hold as another round of macro triggers skewed sentiment to the downside once more.<\/p>\n<p>Bitcoin thus fell in line with stocks reacting, it seemed, to continued concern over the new coronavirus omicron variant. The S&amp;P 500 ended the day down 1.2%.<\/p>\n<p>With a sense of frustration pervading crypto markets, analysts took the opportunity to reassert a longer-range perspective.<\/p>\n<p>\u201cIt\u2019s very simple. Below $60K I\u2019ve remained cautious\/bearish as I\u2019d like to see that area flip,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1466136957466165255\">summarized<\/a>. <\/p>\n<blockquote><p>\u201cLevels to watch for buys; $53K-54K zone and $47-50K zones for Bitcoin. When to buy altcoins? December. Nothing has changed past weeks.\u201d<\/p><\/blockquote>\n<p>Those buy target lows were accompanied by renewed predictions for this cycle\u2019s bullish peak, which, as in April this year, place BTC\/USD at up to $400,000.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Reminder, peak high bull cycle prediction; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> to $350,000-450,000<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> to $10,000-17,500<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Polkadot?src=hash&amp;ref_src=twsrc%5Etfw\">#Polkadot<\/a> to $250-350<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Chainlink?src=hash&amp;ref_src=twsrc%5Etfw\">#Chainlink<\/a> to $250-350<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Cardano?src=hash&amp;ref_src=twsrc%5Etfw\">#Cardano<\/a> to $10-20<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Zilliqa?src=hash&amp;ref_src=twsrc%5Etfw\">#Zilliqa<\/a> to $5-7<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Elrond?src=hash&amp;ref_src=twsrc%5Etfw\">#Elrond<\/a> to $1.500-1.750 (already hit -&gt; revised now)<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DIA?src=hash&amp;ref_src=twsrc%5Etfw\">#DIA<\/a> to $50-75<\/p>\n<p>Some might be conservative. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rgZOEyljC0\">https:\/\/t.co\/rgZOEyljC0<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1466159168054706181?ref_src=twsrc%5Etfw\">December 1, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Fellow analyst TechDev, eyeing Fibonacci levels on the two-week chart, also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1466150132156715010\">described<\/a>\u00a0Thursday as \u201canother day to zoom out.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Open_interest_stays_near_all-time_highs\"><\/span>Open interest stays near all-time highs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On exchanges, open interest, meanwhile, remained a source of concern due to its sheer volume relative to price action.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin fails \u2018worst-case scenario\u2019 monthly close for the first time, starts December sub-$57K<\/em><\/strong><\/p>\n<p>Data from on-chain analytics firm Glassnode showed open interest on Bitcoin futures recently matching its second-highest levels in history, nearing its April record.<\/p>\n<p>\u201cAt some point, this open interest is going to get flushed out one direction or the other,\u201d analyst William Clemente <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1466217859655380993\">commented<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/adabccf2-ec53-4e14-ae0b-bab9719fbbe6.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin futures open interest 7-day moving average chart. Source: William Clemente\/<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>With cyclical price action characterizing the week, the mood thus stayed favoring an ultimate exit up or down, with derivatives structures being \u201creset\u201d as a result. <\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/funding\/BTC\">Funding rates<\/a> were mostly neutral across exchanges Thursday.<\/p>\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\/bitcoin-tests-traders-nerves-as-analyst-reissues-400k-btc-price-forecast\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin tests traders\u2019 nerves as analyst reissues $400K BTC price forecast &#8221; Bitcoin (BTC) was on repeat on Dec. 2 as markets watched another attack on $60,000 end in defeat. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView \u201cNothing has changed\u201d Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD back at $57,000 Thursday, having&#8230;<\/p>\n","protected":false},"author":1,"featured_media":375370,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvOGI1YzRjZGYtMDk4MS00MTU5LTkxM2EtNmI5ZGFiMTI2ZTMxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-375369","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\/375369","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=375369"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/375369\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/375370"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=375369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=375369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=375369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}