{"id":518555,"date":"2022-11-30T14:49:06","date_gmt":"2022-11-30T11:49:06","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/btc-price-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\/"},"modified":"2022-11-30T14:49:06","modified_gmt":"2022-11-30T11:49:06","slug":"btc-price-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/btc-price-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\/","title":{"rendered":"# BTC price taps $17K as analysis warns of inbound Bitcoin \u2018risk events\u2019"},"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-6a4104be00621\" 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-6a4104be00621\" 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-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\/#%E2%80%9D_BTC_price_taps_17K_as_analysis_warns_of_inbound_Bitcoin_%E2%80%98risk_events_%E2%80%9C\" >&#8221; BTC price taps $17K as analysis warns of inbound Bitcoin \u2018risk events\u2019 &#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-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\/#Trader_17500_monthly_close_%E2%80%9Cmost_bullish_outcome%E2%80%9D\" >Trader: $17,500 monthly close \u201cmost bullish outcome\u201d<\/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-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\/#BTC_price_%E2%80%9Crisk_events%E2%80%9D_stack_up\" >BTC price \u201crisk events\u201d stack up<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BTC_price_taps_17K_as_analysis_warns_of_inbound_Bitcoin_%E2%80%98risk_events_%E2%80%9C\"><\/span>&#8221; BTC price taps $17K as analysis warns of inbound Bitcoin \u2018risk events\u2019 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-b8b12140>Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/476f6fb6-4a73-4ad0-9580-ebc782ad9b0f.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=\"Trader_17500_monthly_close_%E2%80%9Cmost_bullish_outcome%E2%80%9D\"><\/span>Trader: $17,500 monthly close \u201cmost bullish outcome\u201d<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 following traders\u2019 predictions to sweep higher levels before consolidating.<\/p>\n<p>Highs of $17,072 <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>eared on Bitstamp, with the pair nonetheless unable to flip the highs to support. At the time of writing, Bitcoin hovered around $16,900.<\/p>\n<p>$17,000 marks a key range for bulls to reclaim, Cointelegraph reported the day prior, and until this happens, the status quo remains.<\/p>\n<p>\u201c$BTC bulls want to hold 16.8k as first counter trend S\/R flip. Back below would represent a minor upthrust,\u201d popular analyst Cheds <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BigCheds\/status\/1597761844466229248\">summarized<\/a>, revealing a short at the highs.<\/p>\n<p>Hours away from the monthly candle close, markets expected volatility to kick in, with losses following the Nov. 27 weekly close already erased.<\/p>\n<p>\u201cLooking for a monthly close back above 17.5k (June lows) for the most bullish possible outcome here,\u201d fellow analyst Credible Crypto <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CredibleCrypto\/status\/1597864906866712577\">wrote<\/a> in part of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> update.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/727d3a8d-20c5-4f52-91a0-e4f85dae36e5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Credible Crypto\/ Twitter<\/em><\/figcaption><\/figure>\n<p>At the time of writing, BTC\/USD was down around 17.5% for the month of November, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/today\">according<\/a> to data from Coinglass.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/9e3ce836-d0d8-4c74-a429-56efde89e736.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=\"BTC_price_%E2%80%9Crisk_events%E2%80%9D_stack_up\"><\/span>BTC price \u201crisk events\u201d stack up<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The macro picture remained stable on the day, with Asia stocks seeing another day of strength ahead of the Nov. 30 Wall Street open.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin capitulation 4th-worst ever as BTC hodlers lose $10B in a week<\/em><\/strong><\/p>\n<p>Hong Kong\u2019s Hang Seng was up 2.2% at the time of writing, with the Shanghai Composite Index managing to recoup initial losses.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/d0fd0ab0-1afc-44b9-ab59-5f0b87535014.png\"><figcaption style=\"text-align: center;\"><em>Hang Seng Index (HSI) 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Analyzing the prospects for December, however, trading firm QCP Capital outlined several \u201crisk events\u201d for Bitcoin hodlers to take note of.<\/p>\n<p>These came in the form of United States Consumer Price Index (CPI) data on Dec. 13, this coinciding with United States lawmakers\u2019 initial hearing on the FTX debacle.<\/p>\n<p>The day after, the Federal Reserve\u2019s Federal Open Market Committee (FOMC) is due to outline inflation expectations and policy.<\/p>\n<p>\u201cThus we believe that while more one-off shocks might not be so forthcoming in a market filled with fear, a continued deflation of the crypto market will continue well into next year as many are forced to continually sell assets to raise liquidity,\u201d QCP <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/qcp.capital\/featured-article\/crypto-circular-8-50-shades-of-gray\/\">commented<\/a> in its latest Crypto Circular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter:<\/p>\n<blockquote><p>\u201cThis will likely only end in late Q2-Q3 next year when the real economy gets badly hit from the 4.75% overnight rate and the Fed is then forced to pivot \u2013 releasing much needed liquidity which could then find its way into crypto markets once again.\u201d<\/p><\/blockquote>\n<p>An extra potential catalyst for BTC price volatility, it added, would come courtesy of reimbursements to creditors of defunct exchange Mt. Gox slated for January.<\/p>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\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 News 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-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; BTC price taps $17K as analysis warns of inbound Bitcoin \u2018risk events\u2019 &#8220; Bitcoin (BTC) briefly returned to $17,000 into Nov. 30 as monthly close volatility loomed. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: $17,500 monthly close \u201cmost bullish outcome\u201d Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD following traders\u2019 predictions to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":518556,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvMzg5M2RiZjgtYTIzMi00ZGQyLTk0MzktYmMwY2ZkMmJiMzU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-518555","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\/518555","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=518555"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518555\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/518556"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=518555"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=518555"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=518555"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}