{"id":390797,"date":"2022-01-07T12:10:03","date_gmt":"2022-01-07T09:10:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-may-pass-30k-september-lows-trader-warns\/"},"modified":"2022-01-07T12:10:03","modified_gmt":"2022-01-07T09:10:03","slug":"bitcoin-may-pass-30k-september-lows-trader-warns","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-may-pass-30k-september-lows-trader-warns\/","title":{"rendered":"# Bitcoin may pass $30K September lows, trader warns"},"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-6a2576d2274d7\" 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-6a2576d2274d7\" 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-may-pass-30k-september-lows-trader-warns\/#Trader_BTC_price_should_close_above_42400\" >Trader: BTC price should close above $42,400<\/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-may-pass-30k-september-lows-trader-warns\/#%E2%80%9CThe_money_printer_aint_going_BRRR%E2%80%9D\" >&#8220;The money printer ain&#8217;t going BRRR&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin may pass $30K September lows, trader warns <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) scooped liquidity at new lows on Jan. 7 as 2022 continued to deliver uninspiring price action.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/6b1c4317-7313-4ea4-a174-f02cc31d72af.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=\"Trader_BTC_price_should_close_above_42400\"><\/span>Trader: BTC price should close above $42,400<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=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD hitting its lowest levels since September overnight, reaching $40,938 on Bitstamp.<\/p>\n<p>The pair had initially bounced at $42,000 but then renewed its descent, surpassing the floor seen in December&#8217;s liquidation cascade.<\/p>\n<p>Among traders, the discussion focused on a similar event occurring, with targets even including a crash below September&#8217;s $30,000 lows.<\/p>\n<p>&#8220;Could even go lower with a liquidation wick, below September lows,&#8221; popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> trader Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1479357851357388805\">warned<\/a> as part of his latest forecast.<\/p>\n<p>At current levels, Bitcoin thus also threatened to dis<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>oint trader Anbessa on daily timeframes.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> price action explained (3\/4)<\/p>\n<p>Zoomed in: <br \/>Bearflag channel support hit after fakeout \u2714\ufe0f<br \/>Inv H&amp;S support hit again (2nd time) \u2714\ufe0f<\/p>\n<p>While I would tolerate a fakeout to $39.333 intraday<br \/>this support right now $42,4k should hold DAILY <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Qv69dekie9\">pic.twitter.com\/Qv69dekie9<\/a><\/p>\n<p>\u2014 AN\u20bfESSA (@Anbessa100) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Anbessa100\/status\/1479130384134717444?ref_src=twsrc%5Etfw\">January 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Macro odds were stacked against both Bitcoin and crypto, commentators argued, headwinds coming from \u2014 among other things \u2014 events in Kazakhstan, home to an estimated 18% of Bitcoin hash rate.<\/p>\n<p>Following mass internet outages across the country this week, hash rate <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/miningpoolstats.stream\/bitcoin\">estimates<\/a> began to show an abrupt dip of around 20 exahashes per second (EH\/s) from what were previously all-time highs of 192 EH\/s \u2014 evoking last year&#8217;s Chinese miner exodus.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CThe_money_printer_aint_going_BRRR%E2%80%9D\"><\/span>&#8220;The money printer ain&#8217;t going BRRR&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Looking forward, others likewise remained subdued on crypto market prospects thanks to macro economic policy.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin monthly RSI lowest since September 2020 in fresh \u2018oversold\u2019 signal<\/em><\/strong><\/p>\n<p>Among them was Arthur Hayes, former CEO of derivatives exchange BitMEX, who pointed at the United States Federal Reserve&#8217;s scheduled rate hikes and reduced asset purchases as souring the allure for risk-asset holders. <\/p>\n<p>Easy money, he wrote in a fresh <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptohayes.medium.com\/maelstrom-ee6021e9d0c2\">blog post<\/a> released, is essentially drying up.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The money printer ain&#8217;t going BRRR, so <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a> is about to get bludgeoned with a two-by-four studded with rusty nails. Read my essay &#8220;Maelstrom&#8221; to find out why.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qUPq90W4qz\">https:\/\/t.co\/qUPq90W4qz<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sKUA4i9dF5\">pic.twitter.com\/sKUA4i9dF5<\/a><\/p>\n<p>\u2014 Arthur Hayes (@CryptoHayes) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoHayes\/status\/1479231849088303104?ref_src=twsrc%5Etfw\">January 6, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Given the law of large numbers, a simple resumption of the previous trend in asset purchases will not cause the growth of the money supply to suddenly and sharply accelerate. Therefore, while risky assets would rejoice \u2014 crypto included \u2014 the best case is that asset purchases slowly grind higher towards their previous all-time highs,&#8221; he claimed. <\/p>\n<blockquote><p>&#8220;Even if that happens, the only way the crypto markets would move up is if the Fed publicly turned on the taps, and then fiat flowed into crypto.&#8221;<\/p><\/blockquote>\n<p>It remains unknown when the Fed will raise rates, while purchase reductions have already begun.<\/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-may-pass-30k-september-lows-trader-warns\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin may pass $30K September lows, trader warns &#8221; Bitcoin (BTC) scooped liquidity at new lows on Jan. 7 as 2022 continued to deliver uninspiring price action.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC price should close above $42,400 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD hitting its lowest levels since&#8230;<\/p>\n","protected":false},"author":1,"featured_media":390798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDUvMDBlODZhMzgtZTNjNC00NjE0LTkwYzItMjc5YmYxOWFlMmNmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-390797","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\/390797","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=390797"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/390797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/390798"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=390797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=390797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=390797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}