{"id":399419,"date":"2022-01-26T14:53:09","date_gmt":"2022-01-26T11:53:09","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close\/"},"modified":"2022-01-26T14:53:09","modified_gmt":"2022-01-26T11:53:09","slug":"btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close\/","title":{"rendered":"# BTC price hits $38K as Bitcoin analysts focus on weekly close"},"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-6a359b09b6192\" 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-6a359b09b6192\" 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\/btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close\/#Next_stop_a_40000_retest\" >Next stop a $40,000 retest?<\/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\/btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close\/#Dogecoin_gains_outshine_major_cryptos\" >Dogecoin gains outshine major cryptos<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># BTC price hits $38K as Bitcoin analysts focus on weekly close <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/9a45b60c-2c3c-4e4d-9c6b-773fa62c70c2.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=\"Next_stop_a_40000_retest\"><\/span>Next stop a $40,000 retest?<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>\u00a0followed BTC\/USD as it continued the rebound that began on Monday.<\/p>\n<p>At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction cues.<\/p>\n<p>For Cointelegraph contributor Micha\u00ebl van de Poppe, the signs were encouraging, with the stage being set for a potential exit from the $30,000\u2013$40,000 corridor.<\/p>\n<p>&#8220;Bitcoin\u00a0held $36K and tested $38K already. If that one tests again, we are likely to get a breakout and potentially test $40.7K,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1486254226523234304\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers.<\/p>\n<p>Almost as bullish on short timeframes was trader, analyst and podcast host Scott Melker, known as the &#8220;Wolf of All Streets.&#8221;<\/p>\n<p>&#8220;Target is $39,600, which as you know is &#8216;coincidentally&#8217; the key resistance on higher time frames,&#8221; he said as part of his latest Twitter update, identifying a &#8220;cup and handle&#8221; pattern on the hourly chart.\u00a0<\/p>\n<p>Even if the overall trend demands that Bitcoin continue to fall, he added, $39,600 remained important as a zone to challenge.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Here is $39,600 on the weekly. This is where bullish market structure broke down with a lower low.<\/p>\n<p>This is the initial target of my current longs. It &#8220;should&#8221; theoretically be retested as resistance, even if we are going down further.<\/p>\n<p>Never guaranteed. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/4AUZRsFuF5\">pic.twitter.com\/4AUZRsFuF5<\/a><\/p>\n<p>\u2014 The Wolf Of All Streets (@scottmelker) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/scottmelker\/status\/1486289753947480064?ref_src=twsrc%5Etfw\">January 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dogecoin_gains_outshine_major_cryptos\"><\/span>Dogecoin gains outshine major cryptos<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins continued to see relief, meanwhile, with Ether (ETH) gaining another 4.3% in the past 24 hours to return above $2,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/5b79f6d0-6682-4072-b7d2-33e84d44aa35.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p><strong><em>Related:\u00a0Eth2 is no more after Ethereum Foundation ditches name in rebrand<\/em><\/strong><\/p>\n<p>The largest altcoin by market cap was nonetheless outperformed by several peers, including Solana (SOL) and XRP.<\/p>\n<p>The top 10cryptocurrencies by market cap, however, were led by Dogecoin (DOGE), which put in around 10% gains over the same period.<\/p>\n<p>The move accompanied fresh publicity from Tesla CEO Elon Musk, who pledged to eat one of McDonald&#8217;s &#8220;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>y Meals&#8221; on television should the fast-food giant opt to accept DOGE for payments.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I will eat a happy meal on tv if <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/McDonalds?ref_src=twsrc%5Etfw\">@McDonalds<\/a> accepts Dogecoin<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/elonmusk\/status\/1485953263040188416?ref_src=twsrc%5Etfw\">January 25, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>DOGE\/USD traded at $0.15 at the time of writing, still around 9% below its position a week ago.<\/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\/btc-price-hits-38k-as-bitcoin-analysts-focus-on-weekly-close\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# BTC price hits $38K as Bitcoin analysts focus on weekly close &#8221; Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Next stop a $40,000 retest? Data from Cointelegraph Markets Pro and TradingView\u00a0followed BTC\/USD&#8230;<\/p>\n","protected":false},"author":1,"featured_media":399420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvOGQ5ODUwMzYtNGJkYi00MjRiLWJhOWItZDE3MjdmMGExMGYwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,86883,82402,74891,73785],"class_list":["post-399419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dogecoin","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/399419","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=399419"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/399419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/399420"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=399419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=399419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=399419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}