{"id":434793,"date":"2022-04-21T00:23:35","date_gmt":"2022-04-20T21:23:35","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analysts-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/"},"modified":"2022-04-21T00:23:35","modified_gmt":"2022-04-20T21:23:35","slug":"analysts-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analysts-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/","title":{"rendered":"# Analysts say Bitcoin has \u2018already capitulated,\u2019 target $41.3K as the most hold level"},"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-6a3be7c91b1ce\" 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-6a3be7c91b1ce\" 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-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/#%E2%80%9D_Analysts_say_Bitcoin_has_%E2%80%98already_capitulated_target_413K_as_the_most_hold_level_%E2%80%9C\" >&#8221; Analysts say Bitcoin has \u2018already capitulated,\u2019 target $41.3K as the most hold level &#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-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/#Whales_accumulate_near_40000\" >Whales accumulate near $40,000<\/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\/analysts-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/#Analysts_say_most_of_the_market_has_already_capitulated\" >Analysts say most of the market has already capitulated<\/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-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\/#Bitcoin_needs_to_hold_the_41300_level\" >Bitcoin needs to hold the $41,300 level<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Analysts_say_Bitcoin_has_%E2%80%98already_capitulated_target_413K_as_the_most_hold_level_%E2%80%9C\"><\/span>&#8221; Analysts say Bitcoin has \u2018already capitulated,\u2019 target $41.3K as the most hold level &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Traders&#8217; struggle to build sustainable bullish momentum persisted across the cryptocurrency market on April 20 after prices slid lower during the afternoon trading session and\u00a0ApeCoin (APE)\u00a0<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>aers to be one of the few tokens that is defying the current\u00a0market-wide downturn.\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 an early morning attempt by Bitcoin (BTC) bulls to breakout above $42,000 was soundly rejected by bears, resulting in a pullback to a daily low of $40,825 before the price was bid back above $41,000. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/bbaa4579-8da3-41d3-bb4f-7581eac68197.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 market analysts are saying about the weakness in Bitcoin and what levels traders are looking at as a good spot for opening new positions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whales_accumulate_near_40000\"><\/span>Whales accumulate near $40,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to on-chain data firm Whalemap, there is\u00a0a significant amount of volume near the $40,000 price level. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/683e6b8b-55a7-49bb-a195-81087db5534b.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin whale volume profile. Source: <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>Whalemap said, <\/p>\n<blockquote><p>\u201cA largely significant portion of whale holdings reside between $38,000 and $42,000 right now. Vital area for Bitcoin. Above it &#8211; bullish. Below it &#8211; bearish.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Analysts_say_most_of_the_market_has_already_capitulated\"><\/span>Analysts say most of the market has already capitulated<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Similar to the observation made by Whalemap, Glassnode analysts noted that \u201ca large amount of coin supply has been re-accumulated between $38,000 and $45,000, which is the primary price range of the current market consolidation.\u201d<\/p>\n<p>When the data is broken down between long term holders (LTH) and short term holders (STH), which is determined by a holding threshold of 155 days, only a few of the STHs who bought between $50,000 and $60,000 are still holding, \u201csuggesting most &#8216;top buyers&#8217; have likely already capitulated.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/c333d028-8bd2-4a30-badc-8d5f75190fc7.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin STH and LTH UTXO realized price distribution. Source: Glassnode<\/em><\/figcaption><\/figure>\n<p>According to Glassnode, a large percentage of the current STH demand \u201cis clustered between $38,000 and $50,000, affirming that investors continue to see value in this price range.\u201d<\/p>\n<p>The fact that 15.2% of the Bitcoin held by LTHs is currently at a loss suggests that a lot of LTHs \u201cwere caught off-side\u201d by the most recent market correction according to Glassnode, a result that is typically seen \u201cin late-stage bear markets, most of which preceded a final capitulation shake-out event.\u201d<\/p>\n<p>Glassnode hypothesized that some of the current weaknesses in the market could be due to the fear of further capitulation, which is prompting traders to wait on the sidelines until such an event occurs. <\/p>\n<p>Glassnode said,<\/p>\n<blockquote><p>\u201cHowever under the surface, it appears as though a huge swathe of the market has already capitulated, in a statistically significant manner, and a resilient inflow of demand between $35,000 to $42,000 range has quietly absorbed this sell-side in its entirety.\u201d <\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><strong><em>BTC price hits 10-day high as trader says $42K is where Bitcoin &#8216;gets interesting&#8217;<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_needs_to_hold_the_41300_level\"><\/span>Bitcoin needs to hold the $41,300 level<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pseudonymous Twitter user \u2018Abnessa\u2019\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Anbessa100\/status\/1516830289133289483\">said<\/a> Bitcoin price needs to break above $41,300 to complete\u00a0a potential inverse head and shoulders pattern on the 4-hour chart. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/ba1ccd4e-1409-46b9-800a-b034c776a3dc.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>According to Abnessa, Bitcoin is currently \u201ctrying to reclaim this level after the failed support\/resistance (S\/R) flip.\u201d<\/p>\n<p>To establish the bullish <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Anbessa100\/status\/1516830296913723392\">case<\/a>, Bitcoin needs to \u201csuccessfully flip S\/R of the current descending trendline\u201d and \u201creclaim support up to the green neckline,\u201d thus completing the inverse head and shoulders setup. <\/p>\n<p>As for the bearish <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Anbessa100\/status\/1516830304580816896\">case<\/a>, a failed retest of $41,300 would result in a \u201cbreakout below the bear-flag\u201d and would \u201calso mean S\/R flip rising wedge resistance as support.\u201d If this were to occur, Abnessa sees a \u201cminimum dump target of $35,000.\u201d<\/p>\n<p>The overall cryptocurrency market cap now stands at $1.909 trillion and Bitcoin\u2019s dominance rate is 41.1%.<\/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>\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-say-bitcoin-has-already-capitulated-target-41-3k-as-the-most-hold-level\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Analysts say Bitcoin has \u2018already capitulated,\u2019 target $41.3K as the most hold level &#8220; Traders&#8217; struggle to build sustainable bullish momentum persisted across the cryptocurrency market on April 20 after prices slid lower during the afternoon trading session and\u00a0ApeCoin (APE)\u00a0appaers to be one of the few tokens that is defying the current\u00a0market-wide downturn.\u00a0 Data&#8230;<\/p>\n","protected":false},"author":1,"featured_media":434794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjBlYzMwOTEtMGQ0My00NTZhLWE1YTgtOGZjMDljZDMzNzY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,74863,75150,73785],"class_list":["post-434793","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\/434793","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=434793"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/434793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/434794"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=434793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=434793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=434793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}