{"id":453061,"date":"2022-05-26T12:40:56","date_gmt":"2022-05-26T09:40:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\/"},"modified":"2022-05-26T12:40:56","modified_gmt":"2022-05-26T09:40:56","slug":"btc-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\/","title":{"rendered":"# BTC price breakout due &#8216;relatively soon&#8217; as Bitcoin volumes spook traders"},"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-6a4083282371f\" 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-6a4083282371f\" 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-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\/#%E2%80%9D_BTC_price_breakout_due_%E2%80%98relatively_soon_as_Bitcoin_volumes_spook_traders_%E2%80%9C\" >&#8221; BTC price breakout due &#8216;relatively soon&#8217; as Bitcoin volumes spook traders &#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-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\/#Markets_%E2%80%9Ceerily_calm%E2%80%9D_post_FOMC\" >Markets &#8220;eerily calm&#8221; post FOMC<\/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-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\/#Dogecoin_targets_new_yearly_lows_in_altcoin_rout\" >Dogecoin targets new yearly lows in altcoin rout<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BTC_price_breakout_due_%E2%80%98relatively_soon_as_Bitcoin_volumes_spook_traders_%E2%80%9C\"><\/span>&#8221; BTC price breakout due &#8216;relatively soon&#8217; as Bitcoin volumes spook traders &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) dis<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>ointed bulls on upside prior to the May 26 Wall Street open as BTC\/USD returned under $29,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/5f2a312b-40c0-4dd6-8d51-357ea0673d6a.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=\"Markets_%E2%80%9Ceerily_calm%E2%80%9D_post_FOMC\"><\/span>Markets &#8220;eerily calm&#8221; post FOMC<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>\u00a0tracked an uninspiring day for Bitcoin, with $800 of losses coming in a single hourly candle several hours before the start of trading.<\/p>\n<p>The largest cryptocurrency had avoided volatility on the release of minutes from the United States Federal Reserve&#8217;s Federal Open Markets Committee (FOMC). <\/p>\n<p>These had avoided any serious divergence from already known facts about economic policy, and despite concerns anti-inflation measures could lead to a recession, no mention of the word &#8220;recession&#8221; appeared in the minutes.<\/p>\n<p>Even legacy markets remained comparatively cool, with analyst Dylan LeClair <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DylanLeClair_\/status\/1529552723527573509\">describing<\/a> the situation as &#8220;eerily calm&#8221; based on volatility data.<\/p>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe, who on May 25 had <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1529363869268856833\">predicted<\/a> a move towards $32,800 for BTC\/USD, reiterated that a breakout from its current trading zone was &#8220;coming relatively soon.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Breakout is coming relatively soon for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> and if we combine that with FA, then we can clearly assume that;<br \/>&#8211; Jobless claims<br \/>&#8211; PCE inflation <\/p>\n<p>Are going to be the trigger. If inflation slows down or jobless claims are fine, the FED might be slowing down the policy. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/WCEgQhMvXm\">pic.twitter.com\/WCEgQhMvXm<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1529730053034061824?ref_src=twsrc%5Etfw\">May 26, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>For the meantime, however, on-chain signals meant that there was likely no impetus for significant price changes, according to fellow trader and analyst, Rekt Capital.<\/p>\n<p>Analyzing on-chain volumes, it became clear that neither buyers nor sellers were prepared to make a bold statement at current levels.<\/p>\n<p>&#8220;Previous periods of high sell-side BTC volume preceded periods where buyer volume started trickling in in the following weeks. But now, we&#8217;re seeing that a) seller volume is declining over time. And b) no $BTC buyer volume has come in following the high seller volume,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1529751648603557888\">explained<\/a> to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers on the day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/a12a0326-1145-4ee7-9acb-ee9f95282d2d.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, NVT Golden Cross, a long-term metric designed to catch price tops and bottoms using volume, flashed red this week as it appeared that on-chain transactions were not significant enough to support even $30,000 levels.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dogecoin_targets_new_yearly_lows_in_altcoin_rout\"><\/span>Dogecoin targets new yearly lows in altcoin rout<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Altcoins presented a mixed bag on the day, with Ether (ETH) noticeably among the weakest of the\u00a0 major cap tokens.<\/p>\n<p><strong><em>Related:\u00a0U.S. dollar index retreats from 20 year highs \u2014 but will DXY topping spark a Bitcoin recovery?<\/em><\/strong><\/p>\n<p>With the exception of the May 12 wick, ETH\/USD traded at its lowest in ten months on May 26, hitting $1,815 on Bitstamp.<\/p>\n<p>&#8220;The question will be whether we can bounce from here and break the $1,940 level,&#8221; Van de Poppe said. <\/p>\n<blockquote><p>&#8220;If that happens, I&#8217;m assuming we&#8217;ll continue $2,050. If it doesn&#8217;t, then the markets are looking at &lt;$1,800 probably.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/5ebf2b9e-cca0-4764-862e-3b3c26bb4fb2.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Solana&#8217;s (SOL) daily losses meanwhile approached 10%, while Dogecoin (DOGE) was at it lowest levels since April 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/61e00380-6b7f-40ab-982b-9470872363fe.png\"><figcaption style=\"text-align: center;\"><em>DOGE\/USD 1-week candle chart (Binance). 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-price-breakout-due-relatively-soon-as-bitcoin-volumes-spook-traders\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BTC price breakout due &#8216;relatively soon&#8217; as Bitcoin volumes spook traders &#8220; Bitcoin (BTC) disappointed bulls on upside prior to the May 26 Wall Street open as BTC\/USD returned under $29,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Markets &#8220;eerily calm&#8221; post FOMC Data from Cointelegraph Markets Pro and TradingView\u00a0tracked an uninspiring day for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453062,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvOWQ2NGExODAtOWQ0MC00MmY1LWE4YjktY2ZjYmFlM2EyOGYzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,86883,82402,74891,73785],"class_list":["post-453061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dogecoin","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453061","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=453061"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453062"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}