{"id":498423,"date":"2022-10-05T13:34:46","date_gmt":"2022-10-05T10:34:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\/"},"modified":"2022-10-05T13:34:46","modified_gmt":"2022-10-05T10:34:46","slug":"bitcoin-still-has-14k-target-warns-trader-as-dxy-due-parabola-break","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\/","title":{"rendered":"# Bitcoin still has $14K target, warns trader as DXY due \u2018parabola\u2019 break"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a261a3f9ea04\" 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-6a261a3f9ea04\" 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-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\/#%E2%80%9D_Bitcoin_still_has_14K_target_warns_trader_as_DXY_due_%E2%80%98parabola_break_%E2%80%9C\" >&#8221; Bitcoin still has $14K target, warns trader as DXY due \u2018parabola\u2019 break &#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-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\/#21000_upside_target_to_precede_new_lows\" >$21,000 upside target to precede new lows<\/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-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\/#Signs_of_good_times_ending_for_US_dollar\" >Signs of good times ending for U.S. dollar<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_still_has_14K_target_warns_trader_as_DXY_due_%E2%80%98parabola_break_%E2%80%9C\"><\/span>&#8221; Bitcoin still has $14K target, warns trader as DXY due \u2018parabola\u2019 break &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>Bitcoin (BTC) held $20,000 into Oct. 5 with trader targets still including a fresh high before rejection.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/f3ab1e34-340c-4b16-be5e-599e92ed4a2f.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=\"21000_upside_target_to_precede_new_lows\"><\/span>$21,000 upside target to precede new lows<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 reaching $20,470 on Bitstamp overnight before returning lower.<\/p>\n<p>The pair succeeded in maintaining the 2017 old all-time high as support, something on-chain analytics resource Material Indicators had hoped would endure as a positive sign.<\/p>\n<p>\u201cBTC is still in a congested range,\u201d it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1577311669755297792\">summarized<\/a> in comments the day prior. <\/p>\n<blockquote><p>\u201cThe retest of technical resistance at the 50-Day MA was rejected. Now I want to see a retest of support at the 2017 Top. Bulls may be losing momentum, but placed a buy wall at $20k to hold price up.\u201d<\/p><\/blockquote>\n<p>Material Indicators was analyzing a chart of the Binance BTC\/USD order book showing investor behavior involving different sized transactions.<\/p>\n<p>It referred to its 50-day moving average (MA), which at $20,170 had still not flipped to decisive support on the day.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/7c8b6335-4fa9-4c84-9d62-23bddf9a9071.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp) with 50MA. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Popular trader Il Capo of Crypto meanwhile continued an extant thesis involving a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to $21,000 before a steeper, more enduring comedown.<\/p>\n<p>\u201cLocal top is not in yet imo, but it&#8217;s very very close,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1577568404147523585\">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>\u201c20500-21000 hasn&#8217;t been touched and there&#8217;s no ltf distribution. Expecting the last leg up soon. Then ltf bearish signs, and reversal to new lows (14k-16k).\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/33f9843b-9d3a-4387-a778-e11f1d6f513f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Il Capo of Crypto\/ Twitter<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Signs_of_good_times_ending_for_US_dollar\"><\/span>Signs of good times ending for U.S. dollar<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Turning to the U.S. dollar index (DXY), a key macro trigger for crypto markets, there was some relief on the horizon. <\/p>\n<p><strong><em>Related:\u00a0BTC price still not at \u2018max pain\u2019 \u2014 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>A fresh 20-year high was still due, according to Il Capo of Crypto, but this would be followed by a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1577570483364429824\/photo\/1\">longer-term break<\/a> of the \u201cparabola\u201d in place on dollar strength since 2021.<\/p>\n<p>\u201cWe could see a push deeper into the box giving BTC\/SPX more time to rally,\u201d fellow trader Mayne <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Tradermayne\/status\/1577440991321395200\">explained<\/a> in an accompanying thread, also mentioning the S&amp;P 500.<\/p>\n<p>\u201cIf this area fails, we could see a break in the dollar&#8217;s parabolic ascent and perhaps a much longer sustained rally.\u201d<\/p>\n<p>DXY circled 110.6 points at the time of writing, having narrowly preserved 110 as support \u2014 still marking its lowest levels since Sep. 21.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-10\/8a0d2369-473f-4bd4-b91a-e4a361bbff8f.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><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-still-has-14k-target-warns-trader-as-dxy-due-parabola-break\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin still has $14K target, warns trader as DXY due \u2018parabola\u2019 break &#8220; Bitcoin (BTC) held $20,000 into Oct. 5 with trader targets still including a fresh high before rejection. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView $21,000 upside target to precede new lows Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD reaching&#8230;<\/p>\n","protected":false},"author":1,"featured_media":498424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTAvYjliYWY1YmUtODQ0Yi00M2Y1LWEyN2YtNGRlYjcxMmM2ZDMwLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,76153,73785],"class_list":["post-498423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498423","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=498423"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/498423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/498424"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=498423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=498423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=498423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}