{"id":435431,"date":"2022-04-22T02:30:26","date_gmt":"2022-04-21T23:30:26","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/"},"modified":"2022-04-22T02:30:26","modified_gmt":"2022-04-21T23:30:26","slug":"analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/","title":{"rendered":"# Analyst suggests swing trading Bitcoin is the best move as BTC price dips below $40K"},"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-6a3c5e1c8bdb4\" 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-6a3c5e1c8bdb4\" 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\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/#%E2%80%9D_Analyst_suggests_swing_trading_Bitcoin_is_the_best_move_as_BTC_price_dips_below_40K_%E2%80%9C\" >&#8221; Analyst suggests swing trading Bitcoin is the best move as BTC price dips below $40K &#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\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/#Resistance_remains_at_key_moving_averages\" >Resistance remains at key moving averages<\/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\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/#Bitcoins_correlation_to_tech_stocks_provides_insight\" >Bitcoin&#8217;s correlation to tech stocks provides insight<\/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\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\/#42300_is_a_crucial_level_to_watch\" >$42,300 is a crucial level to watch<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Analyst_suggests_swing_trading_Bitcoin_is_the_best_move_as_BTC_price_dips_below_40K_%E2%80%9C\"><\/span>&#8221; Analyst suggests swing trading Bitcoin is the best move as BTC price dips below $40K &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC)\u00a0price flashed bullish for a brief moment, possibly tricking some traders into opening longs, before plunging back below $40,000 in evening trading hours. Let&#8217;s take a quick look at what traders think about the current price action and whether or not today&#8217;s brief break out was nothing more than test of overhead resistance.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/17e67b3b-986d-4bf5-8b94-dbbe6f9a9070.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Resistance_remains_at_key_moving_averages\"><\/span>Resistance remains at key moving averages<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Analysis of Bitcoin&#8217;s weekly price action was discussed by crypto trader and pseudonymous <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> user \u2018Rekt Capital\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1517139420154978305\">posted<\/a> the following weekly chart noting that \u201cBitcoin is now hovering below the green 21-week and blue 50-week bull market exponential moving averages (EMA).\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/9337a7b4-6949-4618-ab9d-8ab5d0382dd0.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Rekt Capital said, <\/p>\n<blockquote><p>\u201cBreaks beyond these EMAs have preceded immense upside. Turn these Bull Market EMAs into support and we&#8217;ll see Bull Market momentum resume.\u201d<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoins_correlation_to_tech_stocks_provides_insight\"><\/span>Bitcoin&#8217;s correlation to tech stocks provides insight<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite all the macro factors affecting global financial markets, Bitcoin remains \u201cstuck in the middle of its $35,000 to $45,000 range according to David Lifchitz, managing partner and chief investment officer at ExoAlpha. Lifchitz noted that BTC has behaved more like a risk asset than an inflation hedge. <\/p>\n<p>Evidence for this can be found by looking at the highly correlated price action for BTC and the Nasdaq over the past few months. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/218b862e-eb3a-4b8c-bddf-7ac210dbddb8.jpg\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. Nasdaq futures. Source: Refinitiv<\/em><\/figcaption><\/figure>\n<p>According to Lifchitz, if Bitcoin&#8217;s \u201ccorrelation with speculative tech stocks remains high,\u201d the planned <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/watch-movies-tv-seriess\/\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Watch Movies &amp; TV Series\" target=\"_blank\" rel=\"noopener\">series<\/a> of interest rate hikes by the U.S. Federal Reserve will at some point \u201cbecome toxic to risk assets\u201d which could translate into declines in the price of Bitcoin. <\/p>\n<p>Overall, Lifchitz suggests that for investors who are convinced of its long-term potential, \u201cBitcoin should be actively traded while it bounced up and down in the range.\u201d <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>From beer to Bitcoin as legal tender: A BTC education in Roat\u00e1n<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"42300_is_a_crucial_level_to_watch\"><\/span>$42,300 is a crucial level to watch<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to independent market analyst Micha\u00ebl van de Poppe, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1517080979797680128\">$42,300<\/a> is the crucial level that needs to be overcome. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/186337b6-f203-4fdd-a524-9bcb0de54a20.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 4-hour chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Van de Poppe said, <\/p>\n<blockquote><p>\u201cThis is also a daily breaker. If it breaks, I&#8217;m assuming a new test of $46,000 is around the corner and possibly $50,000.\u201d<\/p><\/blockquote>\n<p>Further evidence that suggests BTC could soon trend higher was provided by analyst and pseudonymous Twitter user \u2018Plan C\u2019, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheRealPlanC\/status\/1516838161284014082\">posted<\/a> the following chart looking at the confluence of several analytical measures for Bitcoin price. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/13ba22f5-c6ae-4854-9323-dc64ed2d009f.jpg\"><figcaption style=\"text-align: center;\"><em>Bitcoin confluence floor model. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Plan C said, <\/p>\n<blockquote><p>\u201cThe last 4 times the blue &amp; purple lines were below the green line for this long the Bitcoin bottom was already in.\u201d<\/p><\/blockquote>\n<p>The overall cryptocurrency market cap now stands at $1.881 trillion and Bitcoin\u2019s dominance rate is 41.2%.<\/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\/analyst-suggests-swing-trading-bitcoin-is-the-best-move-as-btc-price-dips-below-40k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Analyst suggests swing trading Bitcoin is the best move as BTC price dips below $40K &#8220; Bitcoin (BTC)\u00a0price flashed bullish for a brief moment, possibly tricking some traders into opening longs, before plunging back below $40,000 in evening trading hours. Let&#8217;s take a quick look at what traders think about the current price action&#8230;<\/p>\n","protected":false},"author":1,"featured_media":435432,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNTVhZDE1MzUtZmQyNy00NGE2LWFlNjMtMTEzN2U4NGQ1MDJhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,74982,75679,75150,73785],"class_list":["post-435431","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-btc-markets","tag-market-capitalization","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435431","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=435431"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435431\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/435432"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=435431"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=435431"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=435431"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}