{"id":431854,"date":"2022-04-14T23:44:50","date_gmt":"2022-04-14T20:44:50","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/"},"modified":"2022-04-14T23:44:50","modified_gmt":"2022-04-14T20:44:50","slug":"bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/","title":{"rendered":"# Bears control Bitcoin price, but traders say the $40K zone is still good \u2018for longs\u2019"},"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-6a3fbfb03b34e\" 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-6a3fbfb03b34e\" 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\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/#%E2%80%9D_Bears_control_Bitcoin_price_but_traders_say_the_40K_zone_is_still_good_%E2%80%98for_longs_%E2%80%9C\" >&#8221; Bears control Bitcoin price, but traders say the $40K zone is still good \u2018for longs\u2019  &#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\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/#Bitcoin_needs_to_find_support_above_42000\" >Bitcoin needs to find support above $42,000<\/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\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/#Check_for_longs_in_the_40000_zone\" >Check for longs in the $40,000 zone<\/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\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\/#The_possibility_of_a_bullish_uptrend\" >The possibility of a bullish uptrend<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bears_control_Bitcoin_price_but_traders_say_the_40K_zone_is_still_good_%E2%80%98for_longs_%E2%80%9C\"><\/span>&#8221; Bears control Bitcoin price, but traders say the $40K zone is still good \u2018for longs\u2019  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Traders faced another day of red markets on April 14 after the weakness in equities markets continued to put a damper on crypto prices.\u00a0<\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that after holding onto support above $41,000 in the early hours of April 14, the price of Bitcoin (BTC) was slammed back below $40,000 in the afternoon session and hit a daily low of $39,550.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/ff539974-3d01-4fe3-ac99-56596f014127.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 analysts are saying about the short-term outlook for Bitcoin. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_needs_to_find_support_above_42000\"><\/span>Bitcoin needs to find support above $42,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin&#8217;s price action on the monthly chart was discussed by markets 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 Rekt Capital, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1514652124508041217\">posted<\/a> the following chart showing what 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>ened when the $47,000 resistance level was rejected in September 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/833519a6-033a-4ba4-92f4-424da9eb6ac2.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-month chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Similar to the current price action, the move in September also dropped to the blue support line at $41,300 \u201cand also respected a green higher low.\u201d<\/p>\n<p>Rekt Captial said, <\/p>\n<blockquote><p>\u201cAs long as BTC performs a Monthly Close above blue, history may repeat.\u201d<\/p><\/blockquote>\n<p>A similar outlook was expressed by crypto analyst and pseudonymous Twitter user Decodejar, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/decodejar\/status\/1514508708327616513\">posted<\/a> the following chart stating, \u201cBitcoin needs to find support above $42,000.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/7cfa2ddd-b8b0-4042-adf9-2cff98c80f35.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Check_for_longs_in_the_40000_zone\"><\/span>Check for longs in the $40,000 zone<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Cryptocurrency analyst Micha\u00ebl van de Poppe sees the current price action for Bitcoin as \u201ca pretty standard playing field here\u201d based on the following chart <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1514538211699306498\">posted<\/a> on Twitter. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/39f62837-d858-482d-897c-3d61159b9f97.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 2-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>van de Poppe said, <\/p>\n<blockquote><p>\u201cLooking at the $42,000 barrier to break first, that would be a trend break. Otherwise, the $40,000 zone is the area where I&#8217;d want to check for longs.\u201d<\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin bulls need to reclaim $41K ahead of Friday\u2019s $615M BTC options expiry<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_possibility_of_a_bullish_uptrend\"><\/span>The possibility of a bullish uptrend<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Insight into the long-term outlook for Bitcoin based on the percentage of supply held in profit was explored by analyst On-Chain College, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/OnChainCollege\/status\/1514611828160008201\">posted<\/a> the following chart noting that the metric had \u201cbounced off the ~62.5% level three times this year.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/398dc3b4-0d6d-431d-b6ad-1814f347973e.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin price vs. percent of supply in profit. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>On-Chain College said, <\/p>\n<blockquote><p>\u201cCurrently, over 69% of the supply is in profit. Historically, when this metric hits the red zone (+95%) BTC is &#8216;overheated&#8217; and the potential sell pressure is high.\u201d<\/p><\/blockquote>\n<p>A second observation suggesting a bullish future for BTC was mentioned by crypto analyst and pseudonymous Twitter user TAnalyst, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AurelienOhayon\/status\/1514654897270136840\">posted<\/a> the following chart analyzing the &#8220;Bitcoin choppiness index.&#8221;<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/25a4d188-cea9-44b8-a706-45751962de77.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. the Bitcoin choppiness index. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>TAnalyst said, <\/p>\n<blockquote><p>\u201cFor the third time since 2015, we have reached the green zone. The last two times this occurred, a massive bullish uptrend followed. Probably nothing\u2026\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $1.857 trillion and Bitcoin\u2019s dominance rate is 40.9%.<\/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\/bears-control-bitcoin-price-but-traders-say-the-40k-zone-is-still-good-for-longs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bears control Bitcoin price, but traders say the $40K zone is still good \u2018for longs\u2019 &#8220; Traders faced another day of red markets on April 14 after the weakness in equities markets continued to put a damper on crypto prices.\u00a0 Data from Cointelegraph Markets Pro and TradingView shows that after holding onto support above&#8230;<\/p>\n","protected":false},"author":1,"featured_media":431855,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZDY4NzliNDEtNTI2Yy00ZGM1LWFhZDgtYjFhODYwYWI3ODJmLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,73785],"class_list":["post-431854","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\/431854","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=431854"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/431854\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/431855"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=431854"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=431854"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=431854"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}