{"id":382995,"date":"2021-12-18T21:05:00","date_gmt":"2021-12-18T18:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\/"},"modified":"2021-12-18T21:05:00","modified_gmt":"2021-12-18T18:05:00","slug":"traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\/","title":{"rendered":"# Traders delay $100K Bitcoin prediction, but still expect a blow-off top in 2022"},"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-6a41753f42921\" 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-6a41753f42921\" 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\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\/#Bitcoins_consolidation_mirrors_Mays_price_action\" >Bitcoin&#8217;s consolidation mirrors May&#8217;s price action<\/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\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\/#44000_could_be_the_%E2%80%9Cbottom%E2%80%9D\" >$44,000 could be the &#8220;bottom&#8221;<\/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\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\/#Swings_in_sentiment_dont_change_the_underlying_strength\" >Swings in sentiment don\u2019t change the underlying strength<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Traders delay $100K Bitcoin prediction, but still expect a blow-off top in 2022 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bullish traders that drank the &#8220;Bitcoin to $100,000 by year-end&#8221; Kool-Aid are now coming to terms with the fact that there may be no Santa Claus rally to wrap up 2021. At the moment, the pipe dream has morphed into simple hopes that the top cryptocurrency can at least finish the year above $50,000.\u00a0<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the bounce in price seen in BTC following remarks from Federal Reserve Chair Jerome Powell has pretty much evaporated and over the past 48-hours the price has swept fresh lows at $45,500 and from the look of things, the price could drop even further.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/6c3596d6-2f00-436f-b9a1-88df0d284168.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 traders think about Bitcoin&#8217;s current price action and what could be in store for the remainder of 2021.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoins_consolidation_mirrors_Mays_price_action\"><\/span>Bitcoin&#8217;s consolidation mirrors May&#8217;s price action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analyst, \u2018Rekt Capital\u2019, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1471847029571792897\">compared<\/a> the current price action to the consolidation seen in May through July.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/f6a915d5-f062-488e-ac22-e06fabe2aac1.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Rekt Captial said, <\/p>\n<blockquote><p>\u201cBTC is still consolidating inside these two key bull market EMAs. Just like in May 2021 (yellow circle).\u201d <\/p><\/blockquote>\n<p>If a similar pattern were to play out, the price of BTC could continue to consolidate and drift lower for another 6 to 8 weeks before resuming its uptrend. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"44000_could_be_the_%E2%80%9Cbottom%E2%80%9D\"><\/span>$44,000 could be the &#8220;bottom&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A similar scenario was forecast by Cointelegraph contributor Micha\u00ebl van de Poppe, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1471880265228341253\">posted<\/a> the following chart outlining a rough sketch of how BTC price action could unfold over the next couple of months. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/48a80389-c073-45ac-945a-2a0fea748b9b.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Based on the chart provided, van de Poppe sees the possibility of another drawdown to the $44,000 range which will be followed by a return to the current levels for a brief consolidation period and then a resumption of the uptrend. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Analyst lists 21 factors calling for Bitcoin price upside \u2014 But just 4 bearish signals<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Swings_in_sentiment_dont_change_the_underlying_strength\"><\/span>Swings in sentiment don\u2019t change the underlying strength<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A final bit of insight came from cryptocurrency analyst \u2018TechDev\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1471830245862903809\">posted<\/a> the following chart detailing a more macro view of BTC&#8217;s price action after each halving cycle.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-12\/82d53f19-0150-45a8-875d-29b55e782832.jpg\"><figcaption style=\"text-align: center;\"><em>BTC price during each halving cycle. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>TechDev identified two previous instances where BTC price saw intense periods of volatility only to be followed by a late stage rally and blow-off top scenario to a new all-time high.<\/p>\n<p>TechDev said, <\/p>\n<blockquote><p>\u201cDespite multiple swings in sentiment over the last 2 weeks, Bitcoin is in the same macro position.\u201d<\/p><\/blockquote>\n<p>Follow-up tweets and responses pointed to a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly bullish outlook for BTC in the long term for TechDev, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1471874349829431297\">stated<\/a> that \u201call eyes on the retracement levels.\u201d<\/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.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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\/traders-delay-100k-bitcoin-prediction-but-still-expect-a-blow-off-top-in-2022\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Traders delay $100K Bitcoin prediction, but still expect a blow-off top in 2022 &#8221; Bullish traders that drank the &#8220;Bitcoin to $100,000 by year-end&#8221; Kool-Aid are now coming to terms with the fact that there may be no Santa Claus rally to wrap up 2021. At the moment, the pipe dream has morphed into&#8230;<\/p>\n","protected":false},"author":1,"featured_media":382996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNTgwODMwYjEtMDAxYy00OTY0LTk3NjItMGJiMmRlY2Y4ZGRiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,74939,73785],"class_list":["post-382995","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-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/382995","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=382995"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/382995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/382996"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=382995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=382995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=382995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}