{"id":391658,"date":"2022-01-09T15:46:35","date_gmt":"2022-01-09T12:46:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\/"},"modified":"2022-01-09T15:46:35","modified_gmt":"2022-01-09T12:46:35","slug":"bitcoin-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\/","title":{"rendered":"# Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021"},"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-6a3d7e36d970b\" 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-6a3d7e36d970b\" 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-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\/#%E2%80%9CShorters_will_get_rekt%E2%80%9D_at_40700\" >&#8220;Shorters will get rekt&#8221; at $40,700<\/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-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\/#What_difference_a_year_makes\" >What difference a year makes<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021 <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/e087f93a-dbcb-4584-93ed-5aeec668099a.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%9CShorters_will_get_rekt%E2%80%9D_at_40700\"><\/span>&#8220;Shorters will get rekt&#8221; at $40,700<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 reversing course at around $40,700 to subsequently pass $42,000.<\/p>\n<p>The behavior, while uninspiring for some, firmly reminded others of Bitcoin price behavior at the end of September, when $40,700 acted as a springboard which ultimately produced $69,000 all-time highs seven weeks later.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">History and Context <br \/>40.7k <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LqlkxxJ0BF\">https:\/\/t.co\/LqlkxxJ0BF<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/neJlH6mnmN\">pic.twitter.com\/neJlH6mnmN<\/a><\/p>\n<p>\u2014 Pentoshi  DM&#8217;S ARE SCAMS (@Pentosh1) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1479932591717421056?ref_src=twsrc%5Etfw\">January 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;Months have passed since September. And yet, BTC finds itself in the same situation, macro-wise,&#8221; trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1480142525948170247\">commented<\/a>. <\/p>\n<blockquote><p>&#8220;Still consolidating inside its macro Re-Accumulation range. In fact, $BTC is almost at the very same price point at which BTC bottomed on the September retrace.&#8221;\u00a0<\/p><\/blockquote>\n<p>Macro commentaries regarding stricter economic policy from the United States Federal Reserve meanwhile continued.<\/p>\n<p>As last week, concerns focused on crypto markets&#8217; ability to thrive in an atmosphere without the extent of &#8220;easy money&#8221; availability, which has characterized the economy since March 2020.<\/p>\n<p>&#8220;Crypto diehards about to find out if it really was bubble: Rock-bottom rates &amp; trillions of dollars in CenBank money &amp; govt stimmy helped turbocharge prices of digital assets,&#8221; markets pundit Holger Zschaepitz <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Schuldensuehner\/status\/1480098624055001094\">argued<\/a> in a recent <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> post. <\/p>\n<blockquote><p>&#8220;Can mkt hold up w\/o them? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hashtag_click\">Bitcoin<\/a> on course $40k w\/flat CenBank balance sheets.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/67eac8fe-f90b-48da-93d8-32e2bf271c48.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. central bank balance sheet chart. Source: Holger Zschaepitz\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"What_difference_a_year_makes\"><\/span>What difference a year makes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Further similarities came in the form of BTC\/USD exactly matching its position from the same day one year ago Saturday. A key difference, however, lay in sentiment.<\/p>\n<p><strong><em>Related:\u00a0Will this time be different? Bitcoin eyes drop to $35K as BTC price paints \u2018death cross\u2019<\/em><\/strong><\/p>\n<p>On January 8, 2021, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/alternative.me\/crypto\/fear-and-greed-index\/\">Crypto Fear &amp; Greed Index<\/a> stood at 93\/100, flashing a warning that a local top should soon arrive and that the market had entered &#8220;extreme greed.&#8221;<\/p>\n<p> By contrast, this Saturday scored just 10\/100 \u2014 one of the Index&#8217;s lowest-ever readings deep within &#8220;extreme fear&#8221; territory.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/2ab95829-0359-4708-9427-409223bfb9d3.png\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed Index. Source: Alternative.me<\/em><\/figcaption><\/figure>\n<p>&#8220;BTC\u00a0Bulls are getting fearful. BTC Bears are getting greedy. Food for thought,&#8221; Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1480150209359405057\">added<\/a>.<\/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-performs-classic-bounce-at-40-7k-as-btc-price-comes-full-circle-from-january-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021 &#8221; Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView &#8220;Shorters will get rekt&#8221; at $40,700 Data from Cointelegraph Markets Pro&#8230;<\/p>\n","protected":false},"author":1,"featured_media":391659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvY2M4MGE1ODMtNWQ0ZC00OGE2LTgwYmItMTFjNWY4ODNjYjM1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-391658","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\/391658","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=391658"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/391658\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/391659"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=391658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=391658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=391658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}