{"id":432166,"date":"2022-04-15T17:08:03","date_gmt":"2022-04-15T14:08:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\/"},"modified":"2022-04-15T17:08:03","modified_gmt":"2022-04-15T14:08:03","slug":"bitcoin-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\/","title":{"rendered":"# Bitcoin clings to $40K support as focus returns to BTC price &#8216;supercycle&#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-6a3cc5ef6276e\" 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-6a3cc5ef6276e\" 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-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\/#%E2%80%9D_Bitcoin_clings_to_40K_support_as_focus_returns_to_BTC_price_%E2%80%98supercycle_%E2%80%9C\" >&#8221; Bitcoin clings to $40K support as focus returns to BTC price &#8216;supercycle&#8217; &#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-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\/#Bitcoin_returns_to_key_2022_Fib_level\" >Bitcoin returns to key 2022 Fib level<\/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-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\/#Remember_the_supercycle\" >Remember the supercycle?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_clings_to_40K_support_as_focus_returns_to_BTC_price_%E2%80%98supercycle_%E2%80%9C\"><\/span>&#8221; Bitcoin clings to $40K support as focus returns to BTC price &#8216;supercycle&#8217; &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) fooled no one with its criss-crossing of $40,000 on April 15 as traders remained firmly risk-off on BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/c397ac47-481f-4e68-9906-af62bf83bc3a.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=\"Bitcoin_returns_to_key_2022_Fib_level\"><\/span>Bitcoin returns to key 2022 Fib level<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 bouncing modestly after returning to the $39,500 zone on Thursday.<\/p>\n<p>The move erased an impulse move higher from earlier in the week, underscoring the lack of bullish market momentum despite conspicuous demand for Bitcoin among institutional buyers.<\/p>\n<p>For popular trader Crypto Ed, there was reason to believe that further downside would soon ensue. Current levels, he warned viewers of his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=xR7XeH_jsBM&amp;feature=youtu.be\">YouTube update<\/a>, did not constitute suitable ground for a long position.<\/p>\n<p>&#8220;With the upcoming weekend, I would be very careful longing here,&#8221; he summarized.<\/p>\n<p>In the event, BTC\/USD reached around $40,400 before reversing to trade at around $40,150 at the time of writing on Friday.<\/p>\n<p>Markets commentator Miles Johal meanwhile noted that the pair was now interacting with the 0.75 Fibonacci level, this having been a support feature throughout 2022.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Back to dancing with the 0.75 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dDDVjZSJYa\">pic.twitter.com\/dDDVjZSJYa<\/a><\/p>\n<p>\u2014 Miles J Creative (@JohalMiles) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/JohalMiles\/status\/1514945677138317314?ref_src=twsrc%5Etfw\">April 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>United States financial markets were closed on the day for the Good Friday holiday, sparing crypto traders correlated price moves.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Remember_the_supercycle\"><\/span>Remember the supercycle?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Elsewhere, excitement was brewing once again over the concept of Bitcoin being in a so-called &#8220;supercycle.&#8221;<\/p>\n<p><strong><em>Related:\u00a0Bitcoin bulls need to reclaim $41K ahead of Friday\u2019s $615M BTC options expiry<\/em><\/strong><\/p>\n<p>Previously also popular, the concept revolves around viewing BTC price action as more than a product of its roughly four-year halving cycles.<\/p>\n<p>Doing so, some suggest, explains why Q4 2021 \u2014 the year after Bitcoin&#8217;s latest block subsidy halving \u2014 failed to produce the &#8220;blow-off top&#8221; common to previous post-halving years.<\/p>\n<p>Instead, BTC\/USD could just be in a consolidation phase with the majority of its upside still to come.<\/p>\n<p>&#8220;Interesting. Maybe we never got the blow off top&#8230;because it hasn&#8217;t 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 yet,&#8221; Josh Olszewicz, head of research at\u00a0alternative asset management firm Valkyrie <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CarpeNoctom\/status\/1514951193830825992\">reacted<\/a>.<\/p>\n<p>The supercycle comparison chart was originally <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nihkalowz\/status\/1514527840703709191\/photo\/1\">posted to Twitter<\/a> earlier in the week.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/c2e6fb08-439b-40e2-a2c5-aef02fb94788.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin supercycle chart. Source:\u00a0Nihkalowz\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\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 <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-clings-to-40k-support-as-focus-returns-to-btc-price-supercycle\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin clings to $40K support as focus returns to BTC price &#8216;supercycle&#8217; &#8220; Bitcoin (BTC) fooled no one with its criss-crossing of $40,000 on April 15 as traders remained firmly risk-off on BTC. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin returns to key 2022 Fib level Data from Cointelegraph Markets Pro and TradingView\u00a0showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":432167,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNDdlMWE1ODYtZjJkYi00YjI3LTg5ZWEtYWEwZGMwMDFhNjEyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-432166","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\/432166","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=432166"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/432166\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/432167"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=432166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=432166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=432166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}