{"id":401256,"date":"2022-01-30T12:22:58","date_gmt":"2022-01-30T09:22:58","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-stays-near-38k-as-rsi-breakout-challenges-boring-weekend\/"},"modified":"2022-01-30T12:22:58","modified_gmt":"2022-01-30T09:22:58","slug":"bitcoin-stays-near-38k-as-rsi-breakout-challenges-boring-weekend","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-stays-near-38k-as-rsi-breakout-challenges-boring-weekend\/","title":{"rendered":"# Bitcoin stays near $38K as RSI breakout challenges &#8216;boring&#8217; weekend"},"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-6a368b24278a4\" 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-6a368b24278a4\" 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-stays-near-38k-as-rsi-breakout-challenges-boring-weekend\/#%E2%80%9CChoppy_waters%E2%80%9D_for_Bitcoin\" >&#8220;Choppy waters&#8221; 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\/bitcoin-stays-near-38k-as-rsi-breakout-challenges-boring-weekend\/#RSI_gives_bulls_cause_for_excitement\" >RSI gives bulls cause for excitement<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin stays near $38K as RSI breakout challenges &#8216;boring&#8217; weekend <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) circled the $38,000 mark into Jan. 30 as a &#8220;tr<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&#8221; weekend still offered the chance of a solid weekly close.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/2a8eeaa1-5990-429c-8748-d394821ac564.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=\"%E2%80%9CChoppy_waters%E2%80%9D_for_Bitcoin\"><\/span>&#8220;Choppy waters&#8221; for Bitcoin<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 regaining the $38,000 mark after seeing local highs of $38,740 on Bitstamp the previous day.<\/p>\n<p>Despite its strong &#8220;out of hours&#8221; performance, few analysts believed in BTC as a firm bullish play without traditional market guidance.<\/p>\n<p>&#8220;Still choppy waters for Bitcoin,&#8221; Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1487464074233397258\">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<blockquote><p>&#8220;Looking at $37K to see whether that sustains. If not -&gt; I&#8217;m assuming we&#8217;ll test lows for daily bullish divergence to create. If we hold, we might see a breaker above $38.5K happening. Weekend times -&gt; boring\/trappy.&#8221;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1487464074233397258\/photo\/1\"><\/a><\/p><\/blockquote>\n<p>The highs nonetheless continued what looks like a slow return to form for BTC\/USD on daily timeframes after its sub-$33,000 lows earlier in the week.\u00a0<\/p>\n<p>For trader, investor and entrepreneur Bob Loukas, strength lay in the pair&#8217;s multiple closes above the 10-day moving average (MA).<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Two consecutive closes above the 10-dma for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#bitcoin<\/a> makes you think the lows are in now (for 60-day cycle).  Maybe an attempt to get back down to $35k area is possible.<\/p>\n<p>\u2014 Bob Loukas (@BobLoukas) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BobLoukas\/status\/1487536802906918917?ref_src=twsrc%5Etfw\">January 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hopes of a weekly close at $39,600 resistance, however, still looked unlikely to be fulfilled at the time of writing.\u00a0<\/p>\n<p>&#8220;Crypto market is full of breakout traders.\u00a0What is the easiest way to bait them on a weekend when morale is already low? Force a move,&#8221; the skeptical trader and analyst known as Cantering Clark on Twitter <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1487530427095076868\">added<\/a>. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"RSI_gives_bulls_cause_for_excitement\"><\/span>RSI gives bulls cause for excitement<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shifting to on-chain data, meanwhile, popular analyst Matthew Hyland <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1487659894786375682\">revealed<\/a> yet more bullish cues coming from BTC&#8217;s relative strength indicator (RSI).<\/p>\n<p><strong><em>Related:\u00a0No blow-off top? Bitcoin hodler metric points to \u2018depressed\u2019 BTC price<\/em><\/strong><\/p>\n<p>Across multiple chart timeframes, RSI recently hit its most &#8220;oversold&#8221; levels since the Coronavirus crash of March 2020.<\/p>\n<p>The metric is used to determine how &#8220;overbought&#8221; or &#8220;oversold&#8221; BTC is at a particular price, and thus how likely a particular trend is to sustain.<\/p>\n<p>Currently, thanks to the modest rebound off the lows, RSI appears to be in the process of challenging a multi-month downtrend in place since November.<\/p>\n<p>&#8220;The two previous breakouts during the past year have lead to massive bullish moves,&#8221; Hyland added as part of Twitter comments alongside a chart showing the action.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1487659894786375682\/photo\/1\"><\/a><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-01\/5ce57beb-34d4-4217-9f1a-55a80a55429a.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin daily RSI vs. BTC\/USD annotated chart. Source: Matthew Hyland\/ 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-stays-near-38k-as-rsi-breakout-challenges-boring-weekend\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin stays near $38K as RSI breakout challenges &#8216;boring&#8217; weekend &#8221; Bitcoin (BTC) circled the $38,000 mark into Jan. 30 as a &#8220;trappy&#8221; weekend still offered the chance of a solid weekly close. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView &#8220;Choppy waters&#8221; for Bitcoin Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD regaining the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":401257,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDEvMmU0ZDUzZDMtNmRlNC00MTIxLWI3NmQtMDFhMGVjMjc0MDE3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-401256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401256","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=401256"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/401256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/401257"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=401256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=401256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=401256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}