{"id":395846,"date":"2022-01-19T00:06:53","date_gmt":"2022-01-18T21:06:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout\/"},"modified":"2022-01-19T00:06:53","modified_gmt":"2022-01-18T21:06:53","slug":"analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout\/","title":{"rendered":"# Analysts warn that Bitcoin could dip to $38K &#8216;before an eventual breakout&#8217;"},"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-6a286f9a934e5\" 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-6a286f9a934e5\" 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\/analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout\/#January_is_historically_weak_for_Bitcoin\" >January is historically weak for Bitcoin<\/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\/analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout\/#Bitcoin_price_could_dip_under_38000\" >Bitcoin price could dip under $38,000<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Analysts warn that Bitcoin could dip to $38K &#8216;before an eventual breakout&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>The cryptocurrency market faced another day of weakness on Jan. 18 as the price of Bitcoin (BTC) dropped lower and additional pressure was also put on the altcoin market. Currently, the crypto Fear and Greed Index registered &#8220;Extreme Fear&#8221; among investors and some traders caution that BTC price could soon fall below its recent $39,000 swing low.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/fed11b1e-b01e-4a22-b311-f3c50890eb7c.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Crypto Fear &amp; Greed index. Source: Alternative<\/em><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that bulls lost control of the $42,000 support level during the early trading hours on Jan. 18 as bears hammered the BTC price to a daily low of $41,250. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/8accf0d3-2622-4816-b334-73aa150b1bc4.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"January_is_historically_weak_for_Bitcoin\"><\/span>January is historically weak for Bitcoin<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Many crypto holders who were 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>ointed by the lack of a blow-off top to close out 2021 are also expecting fireworks to start 2022, but historically speaking, January \u201chas been one of the most disappointing months for BTC,\u201d according to a recent report from Delphi Digital. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/8cbefb72-7de7-47c5-a26b-ddfe3d9bc6d7.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD normalized year-to-date performance. Source: Delphi Digital<\/em><\/figcaption><\/figure>\n<p>Delphi Digital pointed to \u201ca slowdown in global liquidity growth and tighter policy expectations\u201d as the primary source of headwinds for Bitcoin and they highlighted that these factors have also led to weakness in the stock market, which is considered to be strongly correlated with the price movements seen in BTC. <\/p>\n<p>Another source of weakness identified by Delphi Digital was a lack of liquidity in the perpetual and futures markets along with a drop in BTC open interest over the past two months. <\/p>\n<p>Delphi Digital said, <\/p>\n<blockquote><p>\u201cFor the most part, the price contraction stemmed from liquidity issues in the perp\/futures market, which triggered 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 liquidations that exacerbated BTC\u2019s initial price weakness.\u201d<\/p><\/blockquote>\n<p>As for what comes next, Delphi Ditial indicated that \u201cshort-term momentum indicators appear to signal the worst may be behind us\u201d and the analyst noted that the Fear &amp; Greed index is at levels not seen since May 2021.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin hodlers \u2018under siege\u2019 at $42K as 30% of BTC supply flips from profit to loss<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_price_could_dip_under_38000\"><\/span>Bitcoin price could dip under $38,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A similar trend of weakness was addressed by crypto market intelligence firm Decentrader, which observed that the number of overly bullish \u201cI\u2019m buying the dip\u201d traders on crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> was challenged at around $41,000.<\/p>\n<p>The analysts suggested that based on the size and consistency of the BTC drawdown over the past two months, \u201ca move out of the range to the upside is the most probable outcome eventually and they expect the price \u201cto run towards the 200DMA and the point of breakdown in the summer at around $49,000 \u2013 $50,000.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/f59f40da-57c7-46da-801c-93f18bd64745.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: Decentrader<\/em><\/figcaption><\/figure>\n<p>Decentrader said, <\/p>\n<blockquote><p>\u201cIt is our view that we may need to see some further ranging between $44,000 and potentially $38,000 before an eventual breakout.\u201d<\/p><\/blockquote>\n<p>For traders hard hit by this latest drawdown, Twitter user John Wick issued a positive perspective.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I just want to take a moment to say to you guys who might be underwater in your positions that its okay.<\/p>\n<p>Every cycle this happens. Most of us have to wear these battle scars at least once in our journey to becoming a better trader\/investor. I know I did.<\/p>\n<p>Just don&#8217;t give up.<\/p>\n<p>\u2014 John Wick (@ZeroHedge_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ZeroHedge_\/status\/1483515482095468549?ref_src=twsrc%5Etfw\">January 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The overall cryptocurrency market cap now stands at $1.976 trillion and Bitcoin\u2019s dominance rate is 40%.<\/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<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\/analysts-warn-that-bitcoin-could-dip-to-38k-before-an-eventual-breakout\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Analysts warn that Bitcoin could dip to $38K &#8216;before an eventual breakout&#8217; &#8221; The cryptocurrency market faced another day of weakness on Jan. 18 as the price of Bitcoin (BTC) dropped lower and additional pressure was also put on the altcoin market. Currently, the crypto Fear and Greed Index registered &#8220;Extreme Fear&#8221; among investors&#8230;<\/p>\n","protected":false},"author":1,"featured_media":395847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvNjRlYjg1ZWQtNTk0ZC00MDlmLThlN2YtMmM3YTVhNjFjMjJmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,75150,73785],"class_list":["post-395846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395846","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=395846"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/395846\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/395847"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=395846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=395846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=395846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}