{"id":396370,"date":"2022-01-19T16:13:46","date_gmt":"2022-01-19T13:13:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bounces-at-41k-as-optimism-increases-over-stocks-correlation\/"},"modified":"2022-01-19T16:13:46","modified_gmt":"2022-01-19T13:13:46","slug":"bitcoin-bounces-at-41k-as-optimism-increases-over-stocks-correlation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bounces-at-41k-as-optimism-increases-over-stocks-correlation\/","title":{"rendered":"# Bitcoin bounces at $41K as optimism increases over stocks correlation"},"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-6a365448bd665\" 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-6a365448bd665\" 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-bounces-at-41k-as-optimism-increases-over-stocks-correlation\/#Ethereum_follows_Bitcoin_closer_to_major_support\" >Ethereum follows Bitcoin closer to major support<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin bounces at $41K as optimism increases over stocks correlation  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) rebounded strongly from $41,000 during Jan. 20 as bears hoping for a step into lower territory stayed 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.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/2cf12b4e-3b07-42dc-8b6f-5aa334424b16.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\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 adding $1,000 after dipping to near the $41,000 mark for the first time since Jan. 11.<\/p>\n<p>In what could be a temporary reprieve, Bitcoin nonetheless stayed rangebound, with no noticeable attacks on resistance \u2014 behavior all too familiar for spot traders in recent days.<\/p>\n<p>&#8220;Good bounce from Bitcoin, but I&#8217;d be happier if we reclaim $42.4K region,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1483764840644632577\">summarized<\/a> in his latest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> update.<\/p>\n<p>In a previous post on the day, Van de Poppe highlighted $38,000 as an &#8220;ultimate&#8221; line in the sand that needs to hold should a fresh breakdown occur.<\/p>\n<p>&#8220;The ultimate test for Bitcoin is the area between $38K\u2013$40K. Holding there would confirm buyers stepping in + bullish divergence for a reversal,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1483724684462116864\">added<\/a>.<\/p>\n<p>Others were confident in the market&#8217;s current strength, given a similiar bounce on U.S. stocks prior to the Wall Street open.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I don&#8217;t trust this <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> dump <\/p>\n<p>We&#8217;re still at the golden pocket, got some bull div &amp; SPX just pumped 40 handles off the low<\/p>\n<p>Think we pump from here <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/O81srkoXWR\">pic.twitter.com\/O81srkoXWR<\/a><\/p>\n<p>\u2014 CRG (@MacroCRG) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MacroCRG\/status\/1483744282016206848?ref_src=twsrc%5Etfw\">January 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, Cointelegraph reported on forecasts for Bitcoin relative to stock market performance, with well-known analyst Mike McGlone of Bloomberg Intelligence predicting that the broader correlation between crypto and equities would continue through this year.<\/p>\n<p>Nonetheless, another topic of interest this week focuses on the divergence in performance between Bitcoin and the Nasdaq, with proponents <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zhusu\/status\/1483578370051162112\">hoping<\/a> that BTC would definitively &#8220;decouple&#8221; from the index&#8217;s downward trend.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_follows_Bitcoin_closer_to_major_support\"><\/span>Ethereum follows Bitcoin closer to major support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On altcoins, only Terra&#8217;s LUNA token was able to stand out from sideways action on the day, up 7% and above $80.<\/p>\n<p><strong><em>Related:\u00a0Here\u2019s why Binance Coin is 33% down from its all-time high<\/em><\/strong><\/p>\n<p>Ether (ETH), the largest altcoin by market cap, shed 1.2% in the 24 hours to the time of writing, slowly drifting back towards $3,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/293d626a-c195-4b42-9f98-71922496ee1e.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>In his latest YouTube update, Van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=hYGpOI9Ykj0&amp;feature=youtu.be\">gave<\/a> a target of $2,800 for a short-term floor on ETH\/USD, noting that its relative strength index was apt to provide a &#8220;bullish divergence&#8221; for price in the coming days.<\/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\/bitcoin-bounces-at-41k-as-optimism-increases-over-stocks-correlation\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin bounces at $41K as optimism increases over stocks correlation &#8221; Bitcoin (BTC) rebounded strongly from $41,000 during Jan. 20 as bears hoping for a step into lower territory stayed disappointed. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD adding $1,000 after dipping to near the $41,000&#8230;<\/p>\n","protected":false},"author":1,"featured_media":396371,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvM2FkODRmMGMtMzEwZS00ZWIzLWE4Y2QtYmY3MDdmOTM2NGYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,122378,73785],"class_list":["post-396370","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-terra","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/396370","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=396370"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/396370\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/396371"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=396370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=396370"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=396370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}