{"id":455113,"date":"2022-05-30T17:29:37","date_gmt":"2022-05-30T14:29:37","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\/"},"modified":"2022-05-30T17:29:37","modified_gmt":"2022-05-30T14:29:37","slug":"bitcoin-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\/","title":{"rendered":"# Bitcoin \u2018ready\u2019 for $32.8K after consolidation as BTC price gains 6.3%"},"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-6a40632aac65b\" 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-6a40632aac65b\" 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-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\/#%E2%80%9D_Bitcoin_%E2%80%98ready_for_328K_after_consolidation_as_BTC_price_gains_63_%E2%80%9C\" >&#8221; Bitcoin \u2018ready\u2019 for $32.8K after consolidation as BTC price gains 6.3% &#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-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\/#32000_35000_flagged_as_lines_in_the_sand\" >$32,000, $35,000 flagged as lines in the sand<\/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-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\/#No_bright_future_for_stocks\" >No bright future for stocks<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_%E2%80%98ready_for_328K_after_consolidation_as_BTC_price_gains_63_%E2%80%9C\"><\/span>&#8221; Bitcoin \u2018ready\u2019 for $32.8K after consolidation as BTC price gains 6.3% &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC\/USD retain $30,500.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/7bb18855-ee53-44f4-aa8a-a0d302f27d0e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"32000_35000_flagged_as_lines_in_the_sand\"><\/span>$32,000, $35,000 flagged as lines in the sand<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 the largest cryptocurrency consolidating near $30,600 at the time of writing after hitting highs of $30,900 on Bistamp.<\/p>\n<p>Its best performance since May 16, the return to relative strength was welcomed by analysts, some of whom began to discuss the possibility of a range breakout.<\/p>\n<p>\u201cFinally, Bitcoin is making the run upwards,\u201d Cointelegraph contributor Micha\u00ebl van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1531244032885723136\">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>\u201cSome more consolidation here and we\u2019re ready to break further upwards in which $32.8K and $35K are the resistances. The moment that the market gets to $35K, that\u2019s the point where I\u2019m expecting everyone to turn bullish.\u201d<\/p><\/blockquote>\n<p>Fellow trader and analyst Rekt Capital agreed, requiring at least $32,000 to break and hold for a change of trend.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> is enjoying a rebound from the very bottom of the Macro Range Low, after holding it as support for the past few weeks<\/p>\n<p>That said <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a> would need to break orange ~$32K resistance to enable a rally to ~$35K<\/p>\n<p>For the moment, not too meaningful a move, macro-wise<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/tL7OpKOybm\">pic.twitter.com\/tL7OpKOybm<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1531261732299190273?ref_src=twsrc%5Etfw\">May 30, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To the downside, meanwhile, van de Poppe <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1531271595758608386\">highlighted<\/a> the area near the May 29 weekly close as crucial support to now hold.<\/p>\n<p>That weekly close had remained 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>ointing, marking the ninth red candle in a row for BTC\/USD.<\/p>\n<p>Adopting a conservative perspective, trading account TXMC Trades was unsure of Bitcoin\u2019s ability to crack the range, while United States markets were off for the Memorial Day holiday.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Still just range bound despite the quickness of the pump. LTF double top at resistance. Will <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> break out of a well defined consolidation on a market holiday in the US without a catalyst? My base case is no, but I&#8217;ve been wrong before. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/0gjs6GXizc\">pic.twitter.com\/0gjs6GXizc<\/a><\/p>\n<p>\u2014 TXMC (@TXMCtrades) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TXMCtrades\/status\/1531256778620542976?ref_src=twsrc%5Etfw\">May 30, 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=\"No_bright_future_for_stocks\"><\/span>No bright future for stocks<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ahead of markets returning on May 31, doubts similarly lingered over the true momentum behind their newfound strength, which showed itself last week.<\/p>\n<p><strong><em>Related:\u00a0\u2018Mega bullish signal\u2019 or \u2018real breakdown?\u2019 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>Bitcoin had been initially slow to react, but its copycat behavior lent weight to the idea that higher levels across risk assets could ultimately prove to be a fakeout.<\/p>\n<p>Commenting on the fortunes of the S&amp;P 500, trader and analyst Pentoshi admitted that he did not see much more upside to come.<\/p>\n<p>\u201cI think we are nearing the upside being capped for SPX in red box after we got that beautiful swing low on the weekly,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Pentosh1\/status\/1531266647750844420\">said<\/a> alongside a chart showing targets.\u00a0 <\/p>\n<blockquote><p>\u201cVery hesitant to think this can sustain momentum (only gives Fed more reason to tighten).\u201d<\/p><\/blockquote>\n<p>The U.S. dollar index (DXY) retreated for another day, breaking below 101.5 for the first time since late April.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/30f985df-c517-4113-af33-992633b0277c.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) 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><\/p>\n<\/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-ready-for-32-8k-after-consolidation-as-btc-price-gains-6-3\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin \u2018ready\u2019 for $32.8K after consolidation as BTC price gains 6.3% &#8220; Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC\/USD retain $30,500. BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView $32,000, $35,000 flagged as lines in the sand Data from Cointelegraph Markets Pro and TradingView\u00a0showed the largest cryptocurrency consolidating near&#8230;<\/p>\n","protected":false},"author":1,"featured_media":455114,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZjQyN2ZhYjUtYTYzMC00NzRkLWFkYjQtNDEyZmVlMjkxMmYxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-455113","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\/455113","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=455113"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/455113\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/455114"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=455113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=455113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=455113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}