{"id":413470,"date":"2022-03-08T19:45:46","date_gmt":"2022-03-08T16:45:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/"},"modified":"2022-03-08T19:45:46","modified_gmt":"2022-03-08T16:45:46","slug":"bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/","title":{"rendered":"# Bitcoin price holds key support level \u2014 Can BTC rebound to $43K next?"},"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-6a3bc19876b16\" 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-6a3bc19876b16\" 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-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/#%E2%80%9D_Bitcoin_price_holds_key_support_level_%E2%80%94_Can_BTC_rebound_to_43K_next_%E2%80%9C\" >&#8221; Bitcoin price holds key support level \u2014 Can BTC rebound to $43K next?  &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/#BTC_rebounds_from_solid_2022_support\" >BTC rebounds from solid 2022 support<\/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\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/#Bitcoin_to_30K\" >Bitcoin to $30K?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-holds-key-support-level-can-btc-rebound-to-43k-next\/#BTC_bottoming_out\" >BTC bottoming out?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_holds_key_support_level_%E2%80%94_Can_BTC_rebound_to_43K_next_%E2%80%9C\"><\/span>&#8221; Bitcoin price holds key support level \u2014 Can BTC rebound to $43K next?  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Bitcoin (BTC) looks poised to test the $43,000 level in March, according to a technical setup <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1501123697503088640?s=20&amp;t=pW6DhAtgHdVoJuISRH8hCQ\">shared<\/a> by Rekt Capital, a pseudonymous market analyst.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_rebounds_from_solid_2022_support\"><\/span>BTC rebounds from solid 2022 support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin&#8217;s drop toward $37,000 yesterday was met with modest buying sentiment, leading to a price rebound above $39,000 on March 8. Interestingly, the upside retracement move originated around the same upward sloping trendline serving as an accumulation zone for traders in 2022.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Update after 2 months: <\/p>\n<p>Too many retail investors on derivative exchanges could be a bearish signal.<\/p>\n<p>The good <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> is that we have some whales who are accumulating <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> in this price range of 35k-45k lately.<\/p>\n<p>Live Chart <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/N7kJnbe06k\">https:\/\/t.co\/N7kJnbe06k<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/gK9AtzGoy6\">pic.twitter.com\/gK9AtzGoy6<\/a><\/p>\n<p>\u2014 Ki Young Ju \uc8fc\uae30\uc601 (@ki_young_ju) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1501139848018624514?ref_src=twsrc%5Etfw\">March 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Rekt Capital spotted the successful retest of the trendline in his latest outlook, noting that the move could have Bitcoin climb above $43,100 next, providing it breaks above the green dashed diagonal resistance as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/e157cf72-ddce-4088-8101-610eb9a75d89.jpeg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD weekly price chart. Source: Rekt Capital, TradingView<\/em><\/figcaption><\/figure>\n<p>&#8220;Successful retest here and BTC could actually repeat last week&#8217;s move,&#8221; commented Rekt Capital on Tuesday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_to_30K\"><\/span>Bitcoin to $30K?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The interim bullish outlook <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>eared as Bitcoin remained stuck inside a wide trading range \u2014 between $34,000 and $45,000 \u2014 all across Q1\/2022. In doing so, BTC withstood extreme selloff pressure leveled up by the ongoing macroeconomic and geopolitical concerns, including rate hike fears and the military conflict between Russia and Ukraine.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a><\/p>\n<p>&#8212; Sideways <br \/>&#8212; 32-34k key support, 43-47k key resistance<br \/>&#8212; Headline algo trading + correlation chop in between<br \/>&#8212; Mid-term bull. momentum case validated if 43-47k finally breaks (tested several times)<br \/>&#8212; Sideways = wait for extremes\/boundaries to trade, not there yet <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/RsytMYajWf\">pic.twitter.com\/RsytMYajWf<\/a><\/p>\n<p>\u2014 DonAlt (@CryptoDonAlt) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/1501141508342390784?ref_src=twsrc%5Etfw\">March 8, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Filbfilb, the cofounder of trading suite DecenTrader, also\u00a0noted\u00a0last weekend that &#8220;Bitcoin is rangebound on a macro level,&#8221; but its long-term structure suggests that it would break to the upside.<\/p>\n<p>&#8220;In the im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te term, if the 50 DMA and 3-day level can prove to be supported, a retest of the $43k and high timeframe level could occur,&#8221; said Flibflib, adding that a further break above Bitcoin&#8217;s yearly pivot level of $48,000 would be &#8220;very significant and implicit of a fundamental change.&#8221;<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/b50ee83e-a75b-4bd2-874b-de090bb49b17.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD four-hour price chart. Source: Decentrader, TradingView<\/em><\/figcaption><\/figure>\n<p>But Rekt Capital&#8217;s upside setup revealed little possibilities of Bitcoin extending its rebound toward $48,000. That is because the setup resembles a bearish &#8220;ascending triangle&#8221; pattern, a consolidation range that typically sends the price further lower after its breakout move.<\/p>\n<p>Notably, the profit target of an ascending triangle is calculated by measuring the maximum distance between the pattern&#8217;s two trendlines and by subtracting that from the breakout level. <\/p>\n<p>The chart below assumes the breakout point to be anywhere between $37,500 and $45,000, meaning that a successful break below the triangle range could have Bitcoin drop to between $30,000 and $35,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/3a55bdaf-d39c-4d50-8d08-e9e35eb43960.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD daily price chart featuring ascending triangle breakout targets. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Interestingly, both $30,000 and $35,000 had acted as solid support levels in recent history.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BTC_bottoming_out\"><\/span>BTC bottoming out?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Flibflib also highlighted the $30,000-level for coinciding with the bottom of Bitcoin&#8217;s\u00a0logarithmic regression bands \u2014 a &#8220;tried-and-tested&#8221; support level.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin heading to 36K, analysis says amid warning global stocks \u2018look expensive\u2019<\/em><\/strong><\/p>\n<p>&#8220;The good news is that Bitcoin has less far to fall because it did not run up quite as hard,&#8221; the analyst asserted, adding: <\/p>\n<blockquote><p>&#8220;The confluence with this now sitting at the bottom of the weekly range is significant in our opinion and supports the idea that we will not see such a drawdown as in previous cycles.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/fd20fa3d-1b40-4997-8199-6defc632208d.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 3D chart featuring yearly pivots and log growth curve. Source: TradingView, DecenTrader\u00a0<\/em><\/figcaption><\/figure>\n<p>Nonetheless, an aggressive capitulation event near the $30,000-level could have Bitcoin fall refresh its downside target to the 200-week simple moving average (200-week SMA), a &#8220;catch-all level&#8221; marking the end of previous bearish cycles in March 2020 and December 2018.<\/p>\n<p>The 200-week SMA sits around $20,000.<\/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 News 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-price-holds-key-support-level-can-btc-rebound-to-43k-next\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price holds key support level \u2014 Can BTC rebound to $43K next? &#8220; Bitcoin (BTC) looks poised to test the $43,000 level in March, according to a technical setup shared by Rekt Capital, a pseudonymous market analyst.\u00a0 BTC rebounds from solid 2022 support Bitcoin&#8217;s drop toward $37,000 yesterday was met with modest buying&#8230;<\/p>\n","protected":false},"author":1,"featured_media":413474,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYTk1MjIyMDAtODc2OS00Y2E4LWEzYTktZjBhM2U3M2JmYTI3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74862,81951,74937,74982,81262,74939,78261,73785,71407],"class_list":["post-413470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-price","tag-btc-markets","tag-cryptomarket","tag-market-analysis","tag-tech-analysis","tag-markets","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413470","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=413470"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/413470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/413474"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=413470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=413470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=413470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}