{"id":400547,"date":"2022-01-28T19:47:04","date_gmt":"2022-01-28T16:47:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower\/"},"modified":"2022-01-28T19:47:04","modified_gmt":"2022-01-28T16:47:04","slug":"bitcoin-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower\/","title":{"rendered":"# Bitcoin returns to $37K amid warnings that BTC price &#8216;needs to go lower&#8217;"},"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-6a4020c285b70\" 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-6a4020c285b70\" 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-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower\/#BTC_evades_a_major_resistance_test\" >BTC evades a major resistance test<\/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-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower\/#%E2%80%9CSimilar_vibes%E2%80%9D_to_early_2018\" >&#8220;Similar vibes&#8221; to early 2018<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin returns to $37K amid warnings that BTC price &#8216;needs to go lower&#8217; <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) cracked $37,000 at the Jan. 28 Wall Street open as traders watched and waited for a resistance retest.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/432893e5-dc90-4991-8024-ac5709de60fa.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=\"BTC_evades_a_major_resistance_test\"><\/span>BTC evades a major resistance test<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>\u00a0showed BTC\/USD returning to form after dipping to $36,175 on Bitstamp earlier in the day.<\/p>\n<p>As part of the range-bound behavior, hopes were held high that momentum would continue to challenge resistance levels closer to $40,000, whether or not the ultimate outcome would be a fresh correction.<\/p>\n<p>&#8220;The bearish scenario seems most likely, which is exactly the reason why I think we&#8217;ll see a surprising move,&#8221; popular trader Crypto Ed <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Crypto_Ed_NL\/status\/1486636622053580800\">said<\/a> as part of comments on the im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te outlook.<\/p>\n<blockquote><p>&#8220;Only after a convincing reclaim of $40K I&#8217;ll be full bull.&#8221;<\/p><\/blockquote>\n<p>Fellow trader and analyst Anbessa <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Anbessa100\/status\/1486350898284666893\">reiterated<\/a> previous demands for $38,500 to hold in order to proclaim the corrective phase as complete for Bitcoin.<\/p>\n<p>As Cointelegraph reported earlier, low funding rates are combining with an improving picture across derivative markets, something which could ultimately spark a timely squeeze upward.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> has re-entered the $28000-$38000 consolidation range<\/p>\n<p>BTC last consolidated in this range in Q1 and Q2 of 2021<\/p>\n<p>Naturally, on this latest recovery, the Range High (red) will be the main resistance to beat to confirm further upside<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/aojF2Zcm0y\">pic.twitter.com\/aojF2Zcm0y<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1486049268108509185?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>On Jan.24, Rekt Capital highlighted the area for Bitcoin to reclaim in order to rekindle bullishness on longer weekly timeframes. As reported, this would come in the form of $39,600 as a weekly close price.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9CSimilar_vibes%E2%80%9D_to_early_2018\"><\/span>&#8220;Similar vibes&#8221; to early 2018<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Crypto Ed, however, was not alone in his feeling of foreboding over a possible fresh breakdown.<\/p>\n<p><strong><em>Related: \u2018Bull or bear market?\u2019 Bitcoin losses from panic selling mount in 2022<\/em><\/strong><\/p>\n<p>Despite taking liquidity during its brief dip below $33,000 earlier in the week, Bitcoin has not convinced everyone that the floor is truly in.<\/p>\n<p>Discussing the issue, Twitter analyst TXMC Trades, concluded that BTC\/USD &#8220;still needs to go lower&#8221; from the current spot price. History, it seems, supports the theory.<\/p>\n<p>&#8220;It seems wrong that BTC would bleed straight down from the ATH without a relief rally, only to have the reversal be front-run without properly testing the range low,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TXMCtrades\/status\/1487049314170028038\">argued<\/a>. <\/p>\n<blockquote><p>&#8220;Similar vibes to April 2018 where the $6K bounce was front-run, but ultimately collapsed. Just a gut feel.&#8221;<\/p><\/blockquote>\n<p>TXMC nonetheless <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TXMCtrades\/status\/1486341843138846724\">noted<\/a> that the bounce from $33,000 had liquidated more short positions than at any point since Bitcoin&#8217;s $69,000 all-time highs last November, citing data from on-chain analytics firm Glassnode.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/d53dffc4-d720-4987-b70a-ada2970be381.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin futures short liquidations annotated chart. Source: TXMC Trades\/ Twitter<\/em><\/figcaption><\/figure>\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\/bitcoin-returns-to-37k-amid-warnings-that-btc-price-needs-to-go-lower\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin returns to $37K amid warnings that BTC price &#8216;needs to go lower&#8217; &#8221; Bitcoin (BTC) cracked $37,000 at the Jan. 28 Wall Street open as traders watched and waited for a resistance retest. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC evades a major resistance test Data from Cointelegraph Markets Pro and TradingView\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":400548,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvOTA3ZmQxOWQtMDhmMy00MjI5LWE1OTUtYWY5NGNlY2IyZGY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74863,75150,73785],"class_list":["post-400547","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\/400547","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=400547"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/400547\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/400548"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=400547"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=400547"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=400547"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}