{"id":390889,"date":"2022-01-07T16:30:20","date_gmt":"2022-01-07T13:30:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-clings-to-42k-as-key-moving-average-break-from-july-reappears\/"},"modified":"2022-01-07T16:30:20","modified_gmt":"2022-01-07T13:30:20","slug":"bitcoin-clings-to-42k-as-key-moving-average-break-from-july-reappears","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-clings-to-42k-as-key-moving-average-break-from-july-reappears\/","title":{"rendered":"# Bitcoin clings to $42K as key moving average break from July reappears"},"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-6a3cc53a15f8d\" 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-6a3cc53a15f8d\" 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-clings-to-42k-as-key-moving-average-break-from-july-reappears\/#BTC_%E2%80%9Cvery_closely%E2%80%9D_mimicking_May_behavior\" >BTC &#8220;very closely&#8221; mimicking May behavior<\/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-clings-to-42k-as-key-moving-average-break-from-july-reappears\/#Ethereum_has_trader_planning_2200_buy-in\" >Ethereum has trader planning $2,200 buy-in<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin clings to $42K as key moving average break from July re<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>ears <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) consolidated above $42,000 prior to Wall Street&#8217;s opening bell on Jan. 7 as more similarities to last year&#8217;s lows emerged.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/c8d35ca4-6d4d-498b-ada4-53a4bc6c7fc4.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_%E2%80%9Cvery_closely%E2%80%9D_mimicking_May_behavior\"><\/span>BTC &#8220;very closely&#8221; mimicking May behavior<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>\u00a0tracked a nervous Bitcoin market as BTC\/USD avoided another retest of $40,000 support.<\/p>\n<p>Earlier, after briefly falling below $41,000, analysts had warned that a further capitulation event may occur, this having the potential to bring the pair down to $30,000 or even lower.<\/p>\n<p>That figure rings true for market participants, having formed the bottom of a protracted capitulation which lasted from May to July last year.<\/p>\n<p>Then, as now, miner upheaval combined with macroeconomic factors to temporarily take the momentum out of the Bitcoin bull market.<\/p>\n<p>&#8220;BTC is following May 2021 very closely,&#8221; trader and analyst Rekt Capital noted in a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of tweets on current price action.<\/p>\n<p>He noted that as of Friday, BTC\/USD was performing a break of the 50-week exponential moving average (EMA) \u2014 just like the mid-July move which formed the bottom of that capitulation phase. The 50-week EMA sat at $45,000 on the day.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> capitulation event below the blue 50-week EMA is in progress<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/KGvl2ogbGO\">pic.twitter.com\/KGvl2ogbGO<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1479378224979263492?ref_src=twsrc%5Etfw\">January 7, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe meanwhile noted the differences between the two phases.<\/p>\n<p>A &#8220;swift correction south&#8221; this time around means that prolonged sideways movement and breakout to the upside from 2021 does not overall characterize the current market.<\/p>\n<p>&#8220;The $46,000 level remains a very important one to watch. If that one breaks, I think the entire bear market is over or the entire correction is over and we&#8217;re looking for upwards potential,&#8221; he said during his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ahcFDzsJQLk&amp;feature=youtu.be\">YouTube update<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_has_trader_planning_2200_buy-in\"><\/span>Ethereum has trader planning $2,200 buy-in<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins also saw trouble on the day, following warnings that any strong moves previously were likely a red flag \u2014 a bull trap.<\/p>\n<p><strong><em>Related:\u00a0\u2018Dip,\u2019 \u2018Buy\u2019 and \u2018Fed\u2019 top trending topics on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social media<\/a>, per survey<\/em><\/strong><\/p>\n<p>Ether (ETH), the largest altcoin by market cap, traded down 4.5% at the time of writing to near $3,000 \u2014 down $700 in a week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/a23d47b5-7fc7-4a2a-88eb-06237e8fb700.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Some in the top ten cryptocurrencies by market cap escaped the downtrend, with Cardano (ADA) up 1.2% at $1.23 and XRP flat.<\/p>\n<p>A still highly cautious Pentoshi <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1479190960277897216\">identified<\/a> levels as low as $2,200 for buying ETH, expecting it to hit at &#8220;some point this year.&#8221;<\/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-stabilizes-at-42k-as-key-moving-average-break-from-july-reappears\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin clings to $42K as key moving average break from July reappears &#8221; Bitcoin (BTC) consolidated above $42,000 prior to Wall Street&#8217;s opening bell on Jan. 7 as more similarities to last year&#8217;s lows emerged. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC &#8220;very closely&#8221; mimicking May behavior Data from Cointelegraph Markets Pro and&#8230;<\/p>\n","protected":false},"author":1,"featured_media":390890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvZDNlNzJiZTMtNGIxNC00YmM0LTk0NjUtODQ2M2I3NTAxOGY1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785],"class_list":["post-390889","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\/390889","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=390889"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/390889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/390890"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=390889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=390889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=390889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}