{"id":395398,"date":"2022-01-18T01:10:57","date_gmt":"2022-01-17T22:10:57","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move\/"},"modified":"2022-01-18T01:10:57","modified_gmt":"2022-01-17T22:10:57","slug":"bitcoin-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move\/","title":{"rendered":"# Bitcoin price drops below $42K, but analysts still expect \u2018one more impulse\u2019 move"},"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-6a368de6f0080\" 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-6a368de6f0080\" 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-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move\/#Major_resistance_at_43120\" >Major resistance at $43,120<\/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-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move\/#Bitcoins_4-year_cycle_is_starting_to_lengthen\" >Bitcoin&#8217;s 4-year cycle is starting to lengthen<\/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\/bitcoin-price-drops-below-42k-but-analysts-still-expect-one-more-impulse-move\/#%E2%80%9CAt_least_one_more_upward_impulse%E2%80%9D\" >&#8220;At least one more upward impulse&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price drops below $42K, but analysts still expect \u2018one more impulse\u2019 move <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The wider cryptocurrency market continued to see choppy, sideways price action on Jan. 17 with Bitcoin (BTC) experiencing a midday dip to $41,650. Across the market, trading volumes remain subdued and U.S. financial markets were closed in observation of the Martin Luther King Jr. holiday.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/b7fadedb-81d4-40d7-adde-545357eb6549.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s what analysts are saying about Bitcoin&#8217;s price action and the impact today&#8217;s correction might have on BTC&#8217;s market structure.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Major_resistance_at_43120\"><\/span>Major resistance at $43,120<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analysis of the weekly Bitcoin price action was provided by crypto trader and pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user \u2018Rekt Capital&#8217; who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1483116310259281923\">posted<\/a> the following chart showing that BTC is trading near a well-established support and resistance zone. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/43d8d1e4-f07e-4984-b3f9-395c4731e559.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Rekt Capital said, <\/p>\n<blockquote><p>\u201cThe new BTC Weekly Close shows that the black ~$43,120 level is figuring as new resistance. Technically, BTC continues to reside at the upper region of its current $38000-$43,100 range.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoins_4-year_cycle_is_starting_to_lengthen\"><\/span>Bitcoin&#8217;s 4-year cycle is starting to lengthen<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A look at the long-term trend for Bitcoin was discussed by market analyst and Cointelegraph contributor Micha\u00ebl van de Poppe, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1483110615426248713\">posted<\/a> the following charts looking at the Bitcoin&#8217;s 4-waves pattern and Realized Cap HODL Waves. According to the analyst, there is a possibility that the typical 4-year cycle for BTC may be lengthening. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/194b8e3b-33f2-4cfa-abe2-c6d66554fe7e.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin 4-wave pattern and realized cap HODL waves. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>van de Poppe said, <\/p>\n<blockquote><p>\u201cHonestly, it would make a lot of sense. This cycle is longer than the previous one. The 4-year cycles aren&#8217;t h<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>ening anymore due to macroeconomic impacts. Therefore, this cycle will be higher &amp; longer than everyone expects.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin stays in tight range as analyst eyes potential &#8216;interesting week&#8217; in BTC<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CAt_least_one_more_upward_impulse%E2%80%9D\"><\/span>&#8220;At least one more upward impulse&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The sentiment of a lengthening Bitcoin price cycle were echoed in a tweet from crypto analyst and pseudonymous Twitter user \u2018Techdev\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TechDev_52\/status\/1483094155572228101\">posted<\/a> the following chart providing analysis of the \u201cimpulses and corrections over the cycles&#8217; bull markets based on new address trends on-chain.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/ba44689e-ba55-4865-8b03-6b4e7b76769e.jpg\"><figcaption style=\"text-align: center;\"><em>Number of new Bitcoin addresses and impulse waves. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Compared to the previous impulse waves outlined by Techdev, Bitcoin is still due for a green shaded price breakout in the current cycle before it resets and begins the next one. <\/p>\n<p>Techdev said, <\/p>\n<blockquote><p>\u201cAt least one more upward impulse to come in my opinion before an impulsive downtrend (bear market) begins.\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $2.02 trillion and Bitcoin\u2019s dominance rate is 39.6%.<\/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><\/p>\n<\/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. 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Across the market, trading volumes remain subdued and U.S. financial markets were closed in observation of the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":395399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvNWRjOTQxZmYtYmMzMC00MDJjLWIzZWMtYTQ3MmVhN2I1YjMyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,73785],"class_list":["post-395398","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-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395398","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=395398"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/395399"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=395398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=395398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=395398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}