{"id":478995,"date":"2022-07-29T10:37:52","date_gmt":"2022-07-29T07:37:52","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-bull-run-getting-interesting-as-btc-price-hits-6-week-high\/"},"modified":"2022-07-29T10:37:52","modified_gmt":"2022-07-29T07:37:52","slug":"bitcoin-bull-run-getting-interesting-as-btc-price-hits-6-week-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-bull-run-getting-interesting-as-btc-price-hits-6-week-high\/","title":{"rendered":"# Bitcoin bull run &#8216;getting interesting&#8217; as BTC price hits 6-week high"},"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-6a3dcb66873a0\" 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-6a3dcb66873a0\" 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-bull-run-getting-interesting-as-btc-price-hits-6-week-high\/#%E2%80%9D_Bitcoin_bull_run_%E2%80%98getting_interesting_as_BTC_price_hits_6-week_high_%E2%80%9C\" >&#8221; Bitcoin bull run &#8216;getting interesting&#8217; as BTC price hits 6-week high &#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-bull-run-getting-interesting-as-btc-price-hits-6-week-high\/#Monthly_close_could_seal_20_gains\" >Monthly close could seal 20% gains<\/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-bull-run-getting-interesting-as-btc-price-hits-6-week-high\/#Ethereum_eyes_key_support_reclaim_above_1700\" >Ethereum eyes key support reclaim above $1,700<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_bull_run_%E2%80%98getting_interesting_as_BTC_price_hits_6-week_high_%E2%80%9C\"><\/span>&#8221; Bitcoin bull run &#8216;getting interesting&#8217; as BTC price hits 6-week high &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/1ccc2330-4d0d-4e8f-89f4-295ed00aac8a.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=\"Monthly_close_could_seal_20_gains\"><\/span>Monthly close could seal 20% gains<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>\u00a0captured local highs of $24,445 for BTC\/USD on Bitstamp, its best since the week beginning June 13.<\/p>\n<p>After consolidating around $23,000, bulls got a second wind to propel the market higher on the back of the United States Federal Reserve&#8217;s latest rake hikes and GDP data confirming that the U.S. was now in a recession.<\/p>\n<p>Risk assets outperformed across the board, with Bitcoin and altcoins joining gold in giving traders and analysts cause for positivity on the outlook.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gold <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/GOLD?src=hash&amp;ref_src=twsrc%5Etfw\">#GOLD<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24GLD&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GLD<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24GC_F&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$GC_F<\/a> held the lower boundary of a 23-month rectangle (yellow) that will serve as the Handle for a massive C&amp;H. The bull market has started. Prices head north. Target headed to $3,000+ over next couple of years <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ympPpf7ojP\">pic.twitter.com\/ympPpf7ojP<\/a><\/p>\n<p>\u2014 Peter Brandt (@PeterLBrandt) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PeterLBrandt\/status\/1552740912702291973?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>&#8220;This is getting interesting,&#8221; on-chain monitoring resource Material Indicators tweeted in an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1552684321663762432\/photo\/1\">update<\/a> on its short and long signal thread for the daily BTC\/USD chart June 28.\u00a0It eyed the potential for Bitcoin to make a higher high (HH) next:<\/p>\n<blockquote><p>&#8220;All Trend Precognition signals printing Long on the D chart, plus the 21-DMA and the 50-DMA unwinding. If BTC can make a HH there is little friction to the next HH, and then the macro channel comes into range YES, this is still a bear market rally.&#8221;<\/p><\/blockquote>\n<p>Material Indicators added that $25,000 would also be a key price level to watch should the higher high at $24,300 hold for a daily close.<\/p>\n<p>&#8220;If this rally can push past $25k, then $28k comes into focus very quickly,&#8221; part of a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1552694270661992449\">further post<\/a> read.<\/p>\n<p>&#8220;Parabolic downtrend from ATH broken,&#8221; Blockware lead insights analyst William Clemente meanwhile\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WClementeIII\/status\/1552756835878424576\">summarized<\/a> in a wry alternative take on current BTC price action in 2022.<\/p>\n<p>Versus the same point last week, BTC\/USD was up a modest 4% at the time of writing. With two days left before the July weekly close, the pair was on track to seal monthly gains of over 20%, data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/today\">Coinglass<\/a> confirmed.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/c0819ff5-3145-491e-b0a2-27bdfd6de17f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD monthly returns chart (screenshot). Source: Coinglass<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_eyes_key_support_reclaim_above_1700\"><\/span>Ethereum eyes key support reclaim above $1,700<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The picture on altcoins was similarly rosy on the day, with Ether (ETH) moving past $1,700 to challenge highs from the week of June 6.<\/p>\n<p><strong><em>Related:\u00a03 Bitcoin trading behaviors hint that BTC\u2019s rebound to $24K is a \u2018fakeout\u2019<\/em><\/strong><\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Does this freak you out or get you very, very excited?<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Mc62xW4m1x\">https:\/\/t.co\/Mc62xW4m1x<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1552822781855006721?ref_src=twsrc%5Etfw\">July 29, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While Material Indicators played with the idea of a further retracement and lower low far beneath $1,000, others acknowledged the strength of short-term price action across altcoins.<\/p>\n<p>&#8220;$ETH as well as many Altcoins have performed successful retests of old resistances into new supports and have since rebounded strongly,&#8221; popular trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1552704946038005761\">reacted<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Strong rebound from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> following a successful retest<\/p>\n<p>ETH is slowly <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>roaching its next im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>te resistance (upper orange box)<\/p>\n<p>ETH would need to reclaim the bottom of that box as support if it is to move even higher<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/ETH?src=hash&amp;ref_src=twsrc%5Etfw\">#ETH<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/tkPGBVW76d\">https:\/\/t.co\/tkPGBVW76d<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/CiaYKNh6ha\">pic.twitter.com\/CiaYKNh6ha<\/a><\/p>\n<p>\u2014 Rekt Capital (@rektcapital) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1552704067478192128?ref_src=twsrc%5Etfw\">July 28, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Additional analysis demanded that ETH\/USD reclaim a support zone beginning at around $1,730 for continuation.<\/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><\/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-bull-run-getting-interesting-as-btc-price-hits-6-week-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin bull run &#8216;getting interesting&#8217; as BTC price hits 6-week high &#8220; Bitcoin (BTC) delivered a swift six-week high into July 29 as the aftermath of the latest macro developments boosted risk assets. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Monthly close could seal 20% gains Data from Cointelegraph Markets Pro and TradingView\u00a0captured local&#8230;<\/p>\n","protected":false},"author":1,"featured_media":478996,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOWM5ZjhlNDctODI2My00YzJjLWJhZTktMzI5MjliNzZjMTU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,82402,74891,73785,68637],"class_list":["post-478995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478995","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=478995"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/478996"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=478995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=478995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=478995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}