{"id":477346,"date":"2022-07-24T13:17:36","date_gmt":"2022-07-24T10:17:36","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\/"},"modified":"2022-07-24T13:17:36","modified_gmt":"2022-07-24T10:17:36","slug":"bitcoin-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\/","title":{"rendered":"# Bitcoin must close above $21.9K to avoid fresh BTC price crash \u2014 trader"},"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-6a3b5e88aeb77\" 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-6a3b5e88aeb77\" 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-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\/#%E2%80%9D_Bitcoin_must_close_above_219K_to_avoid_fresh_BTC_price_crash_%E2%80%94_trader_%E2%80%9C\" >&#8221; Bitcoin must close above $21.9K to avoid fresh BTC price crash \u2014 trader &#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-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\/#Classic_levels_for_end-of-week_price_focus\" >Classic levels for end-of-week price focus<\/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-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\/#Ethereum_Cardano_lead_altcoins_as_ETH_outlows_rise\" >Ethereum, Cardano lead altcoins as ETH outlows rise<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_must_close_above_219K_to_avoid_fresh_BTC_price_crash_%E2%80%94_trader_%E2%80%9C\"><\/span>&#8221; Bitcoin must close above $21.9K to avoid fresh BTC price crash \u2014 trader &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) found strength at $22,000 into July 24 with bulls still aiming for a solid green weekly close.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/902a208c-909d-4c50-bcdd-e25631a3e5a2.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=\"Classic_levels_for_end-of-week_price_focus\"><\/span>Classic levels for end-of-week price focus<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 halting a weekend drop at $21,900 to return towards the $23,000 on the day.<\/p>\n<p>The pair held a trading range closely focused on key long-term trendlines, which analysts had previously described as essential to reclaim.<\/p>\n<p>These included the 50-day and 200-week moving averages (MAs), the latter particularly important as support during bear markets but which had acted as resistance since May.<\/p>\n<p>\u201cBullish that we perfectly held the 13d ema + horizontal 21.9k,\u201d popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> trading account CryptoMellany argued in part of her <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMellany\/status\/1551130393121783808\">latest update<\/a> on the day. <\/p>\n<blockquote><p>\u201cI think we&#8217;ll hang around 22.5k for today&#8217;s weekly close, new week starting with action down to 21-21.6k and then up for the rest of the week, forming a bull flag.\u201d<\/p><\/blockquote>\n<p>The 50-day and 200-week MAs stood at $22,370 and $22,690, respectively, at the time of writing, with spot price at $22,670.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/4418d11e-aba6-48cd-beb1-aaec0c4d2fd1.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp) with 50, 200-day moving average. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Continuing, fellow trader and analyst Jibon <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Trader_Jibon\/status\/1551076081850994688\">described<\/a> the upcoming weekly close as \u201cvery very important.\u201d An accompanying chart singled out $21,944 and $22,401 as the lines in the sand for a \u201cbad\u201d or \u201cgood\u201d close.<\/p>\n<p>Earlier in the week, Jibon had warned that such a \u201cbad\u201d result could be the start of a retracement to new macro lows for Bitcoin \u2014 as low as $12,000 \u2014 which continued strength could fuel a relief rally as high as $40,000.<\/p>\n<p>If it were to close at current levels, BTC\/USD would seal its highest levels since mid-June.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/063da399-f717-4c20-bca9-4ca12d187491.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_Cardano_lead_altcoins_as_ETH_outlows_rise\"><\/span>Ethereum, Cardano lead altcoins as ETH outlows rise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>On altcoins, Ether (ETH) and Cardano (ADA) were the standout weekend performers as both rejected lower levels.<\/p>\n<p><strong><em>Related:\u00a0Ethereum price &#8216;cup and handle&#8217; pattern hints at potential breakout versus Bitcoin<\/em><\/strong><\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/5ee8043a-7d05-4d91-9abd-85211c99d1b6.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>ETH\/USD returned to $1,600 on the day, while ADA\/USD likewise looked to challenge its $0.548 peak from during the week, this marking its best performance since June 12.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/89407198-de00-4c1e-b410-6bda4edeffe2.png\"><figcaption style=\"text-align: center;\"><em>ADA\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Analyzing the current environment, traders noted the significance of Ethereum&#8217;s 2018 high of $1,530, a level which became long-term resistance and which returned as resistance again in June.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> <br \/>after spending few weeks below 2017 ATH level <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#ethereum<\/a> is trying to close above it<br \/>still has 2 days left for the weekly close though<br \/>close above and this pushes till 2300 imo<br \/>close below and this keeps chopping and maybe even make new lows..who knows <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/EGsvpyTB6T\">pic.twitter.com\/EGsvpyTB6T<\/a><\/p>\n<p>\u2014 White Walker (@cryptowhitewalk) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cryptowhitewalk\/status\/1550816581151768576?ref_src=twsrc%5Etfw\">July 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>As price action strengthened, meanwhile, outflows of ETH from major exchanges intensified. On July 22, according to data from on-chain analytics firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cryptoquant.com\/asset\/eth\/summary\">CryptoQuant<\/a>, those flows totaled 1.87 million coins.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/f52b7cd4-4490-43c6-ac5a-03d84ca705fd.png\"><figcaption style=\"text-align: center;\"><em>ETH outflows 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-must-close-above-21-9k-to-avoid-fresh-btc-price-crash-trader\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin must close above $21.9K to avoid fresh BTC price crash \u2014 trader &#8220; Bitcoin (BTC) found strength at $22,000 into July 24 with bulls still aiming for a solid green weekly close. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Classic levels for end-of-week price focus Data from Cointelegraph Markets Pro and TradingView showed&#8230;<\/p>\n","protected":false},"author":1,"featured_media":477347,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvMjk5NjA3YjgtM2Q1NC00YjAxLThlODMtZDMzNzFkNDIzMWQyLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,75378,82402,74891,73785,68637],"class_list":["post-477346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-cardano","tag-ether-price","tag-ethereum","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477346","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=477346"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/477346\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/477347"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=477346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=477346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=477346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}