{"id":398593,"date":"2022-01-24T23:07:32","date_gmt":"2022-01-24T20:07:32","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analysts-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom\/"},"modified":"2022-01-24T23:07:32","modified_gmt":"2022-01-24T20:07:32","slug":"analysts-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analysts-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom\/","title":{"rendered":"# Analysts say Bitcoin\u2019s bounce at $36K means &#8216;it\u2019s time to start thinking about a bottom&#8217;"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_88 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-6ac6d43f09eee\" 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-6ac6d43f09eee\" 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-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom\/#%E2%80%9CRate_hikes_dont_kill_risk_assets%E2%80%9D\" >&#8220;Rate hikes don&#8217;t kill risk assets&#8221;<\/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-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom\/#Is_it_time_to_think_about_a_bottom\" >Is it time to think about a bottom?<\/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\/analysts-say-bitcoins-bounce-at-36k-means-its-time-to-start-thinking-about-a-bottom\/#Opening_a_Bitcoin_long_%E2%80%9Clooks_attractive_here%E2%80%9D\" >Opening a Bitcoin long \u201clooks attractive here\u201d<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Analysts say Bitcoin\u2019s bounce at $36K means &#8216;it\u2019s time to start thinking about a bottom&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bears remain in full control of the cryptocurrency market on Jan. 24 and to the shock of many, they managed to pound the price of Bitcoin (BTC) to a multi-month low at $32,967 during early trading hours. This downside move\u00a0filled a CME futures gap that was left over from July 2021.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the $36,000 level was overwhelmed in the early trading hours on Monday, leading to a sell-off that dipped below $33,000 before dip buyers arrived to bid the price back above $35,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/ee788662-51d0-4964-b6db-3e905f7de183.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Here\u2019s a look at what several analysts are saying about the macro factors at play in the global financial markets and what to be on the lookout for in the months ahead. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CRate_hikes_dont_kill_risk_assets%E2%80%9D\"><\/span>&#8220;Rate hikes don&#8217;t kill risk assets&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>For several weeks the dominant conversation in U.S. financial markets has been the prospect of up to four interest rate hikes by the Federal Reserve over the course of 2022, which many people have claimed will put an end to the current bull market. <\/p>\n<p>But according to financial analyst and pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user &#8216;Tascha,&#8217; this is a common misconception because \u201crate hikes don\u2019t kill risk assets.\u201d<\/p>\n<p>Tascha <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TaschaLabs\/status\/1485424334944587776\">said<\/a>, <\/p>\n<blockquote><p>\u201cReversal of quantitative easing does. Check what 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>ened to stocks 2015 and 2018 when Fed turned off the tap.\u201d<\/p><\/blockquote>\n<p>Further insight into Tascha\u2019s tweet was provided in the following reply from pseudonymous Twitter user RK Maruvada. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/66170bd8-0503-4d08-88a4-022ef3d8e9ff.png\"><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Is_it_time_to_think_about_a_bottom\"><\/span>Is it time to think about a bottom?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A bit of hope for the crypto faithful was provided by technical analyst and Bollinger Bands creator John Bollinger, who posted the following tweet suggesting that \u201cit\u2019s time to start thinking about a bottom in cryptos.\u201d <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">It&#8217;s time to start thinking about a bottom in cryptos. However the ability to get outside the lower Bollinger Band repeatedly strongly suggests a retest of some sort will be needed. My plan is wait for a bottom and a bounce, then look for a retest as an entry. <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\/search?q=%24eth&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$eth<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ltc&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ltc<\/a>&#8230;<\/p>\n<p>\u2014 John Bollinger (@bbands) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bbands\/status\/1485648368801968132?ref_src=twsrc%5Etfw\">January 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While the well-known analyst thinks that the market may be in the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> area of a bottom, caution is still warranted and a bounce followed by a retest is needed before looking to enter a long position in BTC. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin \u2018enters value zone\u2019 as BTC price floor metric goes green again<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Opening_a_Bitcoin_long_%E2%80%9Clooks_attractive_here%E2%80%9D\"><\/span>Opening a Bitcoin long \u201clooks attractive here\u201d<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A final bit of analysis was provided by macro strategist and Delphi Digital co-founder Kevin Kelly, who indicated that \u201cthe big question now is where will the next wave of demand come from and what level do we need to hit for it to trigger such bids? <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/5a46b556-dcb0-42e8-ab10-d4f49fab4df3.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>According to Kelly, \u201cthe mid-to-high $30,000s for BTC is a safe bet,\u201d especially due to the widely held belief by many that Bitcoin could see a \u201crun up to $70,000.\u201d <\/p>\n<p>This would mark a 75% gain from the current levels, which \u201clarge capital allocators would salivate at the opportunity to capture\u201d from Kelly\u2019s view, \u201ceven if it takes a year or longer to realize such gains.\u201d<\/p>\n<p>Kelly said, <\/p>\n<blockquote><p>\u201cThat is why we firmly believe BTC looks attractive here for those with a long enough time horizon, especially when compared to traditional alternatives to park your capital.\u201d<\/p><\/blockquote>\n<p>This sentiment that BTC is at a good level for a long was also echoed in the following tweet by cryptocurrency analyst and Twitter user Will Clemente.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Don\u2019t think asymmetry is skewed to the downside for BTC here. <\/p>\n<p>For the long term investor this is a good area to DCA in some heavier buys IMO.<\/p>\n<p>\u2014 Will Clemente (@WClementeIII) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1485666946909626377?ref_src=twsrc%5Etfw\">January 24, 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 $1.594 trillion and Bitcoin\u2019s dominance rate is 41.9%.<\/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><\/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-say-bitcoin-s-bounce-at-36k-means-it-s-time-to-start-thinking-about-a-bottom\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Analysts say Bitcoin\u2019s bounce at $36K means &#8216;it\u2019s time to start thinking about a bottom&#8217; &#8221; Bears remain in full control of the cryptocurrency market on Jan. 24 and to the shock of many, they managed to pound the price of Bitcoin (BTC) to a multi-month low at $32,967 during early trading hours. This&#8230;<\/p>\n","protected":false},"author":1,"featured_media":398594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvMjFiYzY1YTYtODZjMS00OGNlLTg1ZjktNDUwMDQyMDc2OWE3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,73785],"class_list":["post-398593","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\/398593","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=398593"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/398593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/398594"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=398593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=398593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=398593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}