{"id":452530,"date":"2022-05-25T13:46:23","date_gmt":"2022-05-25T10:46:23","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\/"},"modified":"2022-05-25T13:46:23","modified_gmt":"2022-05-25T10:46:23","slug":"bitcoin-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\/","title":{"rendered":"# Bitcoin &#8216;finally&#8217; due for $32.8K as long-term BTC price metric flashes overvalued"},"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-6a408867372ac\" 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-6a408867372ac\" 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-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\/#%E2%80%9D_Bitcoin_%E2%80%98finally_due_for_328K_as_long-term_BTC_price_metric_flashes_overvalued_%E2%80%9C\" >&#8221; Bitcoin &#8216;finally&#8217; due for $32.8K as long-term BTC price metric flashes overvalued &#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-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\/#Trader_BTC_should_challenge_2-week_highs\" >Trader: BTC should challenge 2-week highs<\/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-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\/#Metric_hints_BTC_price_%E2%80%9Covervalued%E2%80%9D\" >Metric hints BTC price &#8220;overvalued&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_%E2%80%98finally_due_for_328K_as_long-term_BTC_price_metric_flashes_overvalued_%E2%80%9C\"><\/span>&#8221; Bitcoin &#8216;finally&#8217; due for $32.8K as long-term BTC price metric flashes overvalued &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) briefly returned to $30,000 before the May 25 Wall Street open as range adherence lingered.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/1ca117ec-e53f-4b7b-8af9-8a5bf87c21fe.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=\"Trader_BTC_should_challenge_2-week_highs\"><\/span>Trader: BTC should challenge 2-week highs<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> showed BTC\/USD managing to hit $30,189 on Bitstamp before consolidating back under the $30,000 mark. <\/p>\n<p>While <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>earing uninspiring at first glance, Bitcoin on low timeframes was a source of fresh interest for Cointelegraph contributor Micha\u00ebl van de Poppe, who predicted a run to near $33,000 next.<\/p>\n<p>\u201cBitcoin broke through $29.4K and ran towards the next resistance zone,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1529363869268856833\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers. <\/p>\n<blockquote><p>\u201cIf we hold $29.4K, we&#8217;ll be good towards $32.8K. Finally.\u201d<\/p><\/blockquote>\n<p>$32,800 would represent Bitcoin\u2019s highest since May 9 \u2014 just before the Terra implosion sparked its cascade to ten-month lows.<\/p>\n<p>Fellow trader Nebraskan Gooner meanwhile eyed a <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 higher lows on the 4-hour chart, highlighting $30,400 as \u201cthe line to beat.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a><\/p>\n<p>Very interesting..<\/p>\n<p>$30.4k the line to beat now. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/8T7Iw1b62q\">pic.twitter.com\/8T7Iw1b62q<\/a><\/p>\n<p>\u2014 Nebraskangooner (@Nebraskangooner) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Nebraskangooner\/status\/1529241139785646081?ref_src=twsrc%5Etfw\">May 24, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Metric_hints_BTC_price_%E2%80%9Covervalued%E2%80%9D\"><\/span>Metric hints BTC price &#8220;overvalued&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond intraday price action, however, cold feat among many analysts remained. <\/p>\n<p><strong><em>Related:\u00a0Largest difficulty drop since July 2021 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>For on-chain analytics platform CryptoQuant, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/btc\/chart\/network-indicator\/nvt-golden-cross?window=DAY&amp;sma=0&amp;ema=0&amp;priceScale=log&amp;metricScale=linear&amp;chartStyle=line\">concerning signs<\/a> from the network transaction value (NVT) Golden Cross metric suggested a retracement was incoming.<\/p>\n<p>Designed to catch local tops and bottoms, a spike in NVT Golden Cross, as was occurring on the day, reinforced the idea that volume was not sufficient to sustain upwards trajectory.<\/p>\n<p>\u201cWe have a significant change in the NVT Golden Cross indicator where it has reached its most overvalued position since April last year before the dip to the June lows,\u201d CryptoQuant contributing analyst Kripto Mevsimi told Cointelegraph.<\/p>\n<p>As Cointelegraph reported, forecasts for a generational bottom in BTC\/USD included as low as $15,500 this week.<\/p>\n<p>A new all-time high, meanwhile, might have to wait until 2024, when Bitcoin&#8217;s next halving cycle begins.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/1eb8a6d7-52f0-4b15-9398-83c882f2ec40.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin NVT Golden Cross chart. Source: CryptoQuant<\/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-finally-due-for-32-8k-as-long-term-btc-price-metric-flashes-overvalued\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin &#8216;finally&#8217; due for $32.8K as long-term BTC price metric flashes overvalued &#8220; Bitcoin (BTC) briefly returned to $30,000 before the May 25 Wall Street open as range adherence lingered. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC should challenge 2-week highs Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD managing to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":452531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvNjY2OGM0M2ItYjE1My00MzAyLTkzZTYtZjM3Y2Q1NWQwY2YyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-452530","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\/452530","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=452530"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/452530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/452531"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=452530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=452530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=452530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}