{"id":433514,"date":"2022-04-18T16:57:26","date_gmt":"2022-04-18T13:57:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\/"},"modified":"2022-04-18T16:57:26","modified_gmt":"2022-04-18T13:57:26","slug":"btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\/","title":{"rendered":"# BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high"},"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-6a415b1170393\" 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-6a415b1170393\" 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\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\/#%E2%80%9D_BTC_could_drop_to_30K_in_2_weeks_trader_warns_as_gold_goes_for_2K_high_%E2%80%9C\" >&#8221; BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high &#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\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\/#30000_dive_is_April_%E2%80%9Crisk%E2%80%9D\" >$30,000 dive is April &#8220;risk&#8221;<\/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\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\/#Gold_strikes_out_as_crypto_correlation_wanes\" >Gold strikes out as crypto correlation wanes<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BTC_could_drop_to_30K_in_2_weeks_trader_warns_as_gold_goes_for_2K_high_%E2%80%9C\"><\/span>&#8221; BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) is in line for a relief bounce but still risks dropping all the way to $30,000 before May, a new analysis warned on April 18.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/e6cf4731-685f-49dd-8ae0-d09015f2f14e.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=\"30000_dive_is_April_%E2%80%9Crisk%E2%80%9D\"><\/span>$30,000 dive is April &#8220;risk&#8221;<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 hovering near $39,000 on April 18 as bearish prognoses for the pair mounted.<\/p>\n<p>After losing $40,000 support overnight into April 18, Bitcoin faced thin liquidity in the absence of United States and European equities trading, thanks to the Easter weekend.<\/p>\n<p>For popular trader Crypto Ed, a near-term retreat should bottom out at $37,500 before a rebound kicks in.<\/p>\n<p>&#8220;First need to reclaim $40,000; if we manage that, it&#8217;ll certainly give a bullish impulse to the market,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=flWeeFu9WhE&amp;feature=youtu.be\">said<\/a> in his latest <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">YouTube<\/a> update.<\/p>\n<p>Should that 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>en, $43,000 could figure as the local high but going forward, the picture looks bleak. Using Elliott Wave analysis, Crypto Ed predicted a repeat of recent downside moves interspersed with a brief relief bounce. The target, he concluded, was $30,000.<\/p>\n<p>&#8220;That&#8217;s the risk for the coming, let&#8217;s say, two weeks,&#8221; he added.<\/p>\n<p>Popular Twitter account Bitcoin Jack likewise called for the coming weeks to act as a moment of reckoning for longer-term price action.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Room for a squeeze up but then heading to the monthly level below in due time is where my thinking is at<\/p>\n<p>Guessing early May to decide major trend in to summer time <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Zo8hARsyo8\">pic.twitter.com\/Zo8hARsyo8<\/a><\/p>\n<p>\u2014 \/\/Bitcoin ack  (@BTC_JackSparrow) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BTC_JackSparrow\/status\/1516021139482550282?ref_src=twsrc%5Etfw\">April 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As Cointelegraph previously reported, $30,000 as a target for May or June is nothing new.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gold_strikes_out_as_crypto_correlation_wanes\"><\/span>Gold strikes out as crypto correlation wanes<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite Bitcoin coming under pressure, there was no sense of pain for safe haven gold on April 18.<\/p>\n<p><strong><em>Related:\u00a0US dollar strength mimics 2020 Coronavirus crash \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>After climbing throughout the past week, XAU\/USD crept up on the $2,000 mark again, coming within $2 of the resistance level before retreating to around $1,990.<\/p>\n<p>Nonetheless, the pair traded at its highest since March 11, giving the U.S. dollar&#8217;s own strength a run for its money.<\/p>\n<p>&#8220;A 50-day correlation coefficient for Bitcoin and gold is around minus 0.4, the lowest since 2018,&#8221; journalist Colin Wu <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WuBlockchain\/status\/1516050110559375363\">noted<\/a> about the implications of gold and Bitcoin&#8217;s diverging price performance. <\/p>\n<blockquote><p>&#8220;For now, Bitcoin remains tightly correlated with the Nasdaq 100 index. The Nasdaq 100 is down about 15% this year, while Bitcoin has shed some 16%.&#8221;\u00a0<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/e1c6336a-6afd-4ce1-ace0-15503ecddd41.png\"><figcaption style=\"text-align: center;\"><em>XAU\/USD 1-day candle chart. Source: TradingView<\/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\/btc-could-drop-to-30k-in-2-weeks-trader-warns-as-gold-goes-for-2k-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high &#8220; Bitcoin (BTC) is in line for a relief bounce but still risks dropping all the way to $30,000 before May, a new analysis warned on April 18. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $30,000 dive is&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZDViZDQ1ODEtNTVkZC00ZGVmLTkyZTktMDEzMzY4YjVmMTk3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-433514","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433514","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=433514"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433515"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}