{"id":424665,"date":"2022-04-01T02:47:39","date_gmt":"2022-03-31T23:47:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analysts-debate-bitcoins-next-step-after-todays-45-5k-retest\/"},"modified":"2022-04-01T02:47:39","modified_gmt":"2022-03-31T23:47:39","slug":"analysts-debate-bitcoins-next-step-after-todays-45-5k-retest","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analysts-debate-bitcoins-next-step-after-todays-45-5k-retest\/","title":{"rendered":"# Analysts debate Bitcoin\u2019s next step after today\u2019s $45.5K retest"},"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-6a357db121eef\" 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-6a357db121eef\" 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\/analysts-debate-bitcoins-next-step-after-todays-45-5k-retest\/#%E2%80%9D_Analysts_debate_Bitcoins_next_step_after_todays_455K_retest_%E2%80%9C\" >&#8221; Analysts debate Bitcoin\u2019s next step after today\u2019s $45.5K retest &#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\/analysts-debate-bitcoins-next-step-after-todays-45-5k-retest\/#This_is_just_a_short_term_correction\" >This is just a short term correction<\/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-debate-bitcoins-next-step-after-todays-45-5k-retest\/#BTC_searches_for_support_between_42000_and_45000\" >BTC searches for support between $42,000 and $45,000<\/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\/analysts-debate-bitcoins-next-step-after-todays-45-5k-retest\/#A_necessary_period_of_sideways_consolidation\" >A necessary period of sideways consolidation<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Analysts_debate_Bitcoins_next_step_after_todays_455K_retest_%E2%80%9C\"><\/span>&#8221; Analysts debate Bitcoin\u2019s next step after today\u2019s $45.5K retest &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>The euphoric calls for a return of the bull market may have been a bit early especially after Bitcoin (BTC) bulls failed to push the price over the $46,000 level on March 31. Even with the current pullback, analysts continue to expect a lower support retest at the $45,000 level.<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that today&#8217;s attempt to push the price of BTC above $47,500 was soundly rejected by bears which sent the top cryptocurrency plunging to $45,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/d1ef818d-f02b-472d-913d-fce84139eba2.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 in the market are saying about the price pullback for BTC and whether or not traders should brace for further losses or prepare for another move higher. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"This_is_just_a_short_term_correction\"><\/span>This is just a short term correction<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Not all traders were caught flat-footed by Thursday&#8217;s move lower in Bitcoin, including market 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 \u2018IncomeSharks\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/IncomeSharks\/status\/1509414367326257155\">posted<\/a> the following chart prior to the price drop noting that the \u201c4h looks like it wants to correct a bit.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/a762e8ee-8a9c-429e-8421-0fb45c2c6516.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>IncomeSharks said, <\/p>\n<blockquote><p>\u201cThis is not me being bearish, I&#8217;m just noticing 3 reasons why a little correction makes sense. Supertrend is going flat, we probably will re-test this breakout, and we can bounce at the trend line. Good time for me to take profits.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"BTC_searches_for_support_between_42000_and_45000\"><\/span>BTC searches for support between $42,000 and $45,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The next available levels of support to keep an eye on were discussed by market analyst and economist Caleb Franzen, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CalebFranzen\/status\/1509603184809058306\">posted<\/a> the following chart showing the 21-day, 55-day and 200-day exponential moving averages (EMA) for Bitcoin stating, \u201cSometimes it&#8217;s helpful to cut out all the noise, remove price structure analysis, and just look at the exponential moving averages.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/308314f8-1e1d-4eac-9885-621e3564fd62.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Franzen said, <\/p>\n<blockquote><p>&#8220;All are potential support for Bitcoin, giving us a range of $42,000 &#8211; $45,000.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin derivatives metrics favor a move to $48K, but only after a lower support retest<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_necessary_period_of_sideways_consolidation\"><\/span>A necessary period of sideways consolidation <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A more macro view on what comes next for Bitcoin was provided by analyst and pseudonymous Twitter user \u2018BTCFuel\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BTCfuel\/status\/1509578216520011781\">posted<\/a> the following chart comparing the BTC price action in 2012 to its current movement and suggested that \u201cafter being up 28% in the last 2 weeks and breaking a major resistance, some sideways consolidation should be good for Bitcoin.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/8d6bc5da-9783-48f2-8de1-cf229257012a.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD price in 2012 vs. BTC\/USD price in 2022. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>BTCFuel said, <\/p>\n<blockquote><p>\u201cIn the next months, I believe that Bitcoin will move slow and steadily up like in 2012. But altcoins will go nuts.\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $2.087 trillion and Bitcoin\u2019s dominance rate is 41.6%.<\/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><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-debate-bitcoin-s-next-step-after-today-s-45-5k-retest\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Analysts debate Bitcoin\u2019s next step after today\u2019s $45.5K retest &#8220; The euphoric calls for a return of the bull market may have been a bit early especially after Bitcoin (BTC) bulls failed to push the price over the $46,000 level on March 31. Even with the current pullback, analysts continue to expect a lower&#8230;<\/p>\n","protected":false},"author":1,"featured_media":424666,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMzdhNmFlMTgtMGRhOS00ZmM2LWI0MTctMGRlMDk5MzAyMTBiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,73785],"class_list":["post-424665","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\/424665","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=424665"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/424665\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/424666"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=424665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=424665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=424665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}