{"id":541442,"date":"2023-01-20T18:55:55","date_gmt":"2023-01-20T15:55:55","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\/"},"modified":"2023-01-20T18:55:55","modified_gmt":"2023-01-20T15:55:55","slug":"bitcoin-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\/","title":{"rendered":"# Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold"},"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-6a41696395ca7\" 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-6a41696395ca7\" 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-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\/#%E2%80%9D_Bitcoin_eyes_214K_zone_as_analyst_predicts_BTC_price_will_chase_gold_%E2%80%9C\" >&#8221; Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold &#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-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\/#Bitcoin_price_range_%E2%80%9Cwell_defined%E2%80%9D\" >Bitcoin price range &#8220;well defined&#8221;<\/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-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\/#Analyst_Bitcoin_should_%E2%80%9Cclose_gap%E2%80%9D_with_gold\" >Analyst: Bitcoin should &#8220;close gap&#8221; with gold<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_eyes_214K_zone_as_analyst_predicts_BTC_price_will_chase_gold_%E2%80%9C\"><\/span>&#8221; Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) rose toward new multi-month highs on Jan. 20 as analysis predicted a new trading range above $18,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/f02b6298-3b3f-494b-aa21-e205a3988d75.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=\"Bitcoin_price_range_%E2%80%9Cwell_defined%E2%80%9D\"><\/span>Bitcoin price range &#8220;well defined&#8221;<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 testing but preserving support at $21,000.<\/p>\n<p>The pair edged higher at the Wall Street open, in line with United States equities as the third trading week of an explosive January drew to an end.<\/p>\n<p>Despite misgivings over the rally\u2019s fundamental strength, Bitcoin continued to avoid significant corrections, with exchange order book analysis revealing $23,000 as the next big resistance zone to crack.<\/p>\n<p>\u201cI view the lack of BTC liquidity below $18k and above $23k as a lack of sentiment for those levels at this time,\u201d on-chain monitoring resource Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1616419105963388933\">wrote<\/a> in part of commentary about the Binance order book setup. <\/p>\n<blockquote><p>\u201cNothing changes sentiment like price moving through support or resistance, but for now, the trading range is well defined.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/258a9a85-f70d-49b2-81fa-1564f14bf365.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD order book data (Binance). Source: Material Indicators\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>An accompanying chart also revealed significant bid support in place at just above the psychologically significant $20,000 mark.<\/p>\n<p>In terms of short-term targets, popular trader and analyst Crypto Ed hoped for 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 $21,500 before a turnaround with a downside target of $19,800.<\/p>\n<p>\u201cI still believe that we will get there, and maybe we are already on our way over there,\u201d he said in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=TENroRVPX7U\">YouTube update<\/a> on the day.<\/p>\n<p>The area around $21,400 was equally important for fellow trader CJ, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/irncrypt\/status\/1616425816929222656\">told<\/a> Twitter followers that this would be a suitable place to \u201ctag longs.\u201d<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_Bitcoin_should_%E2%80%9Cclose_gap%E2%80%9D_with_gold\"><\/span>Analyst: Bitcoin should &#8220;close gap&#8221; with gold<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Zooming out, others focused on continued impressive moves by safe haven gold, which had hit a new nine-month high on Jan. 19.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin can pass $30K before setting new bear market low \u2014 forecast<\/em><\/strong><\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MacroScope17\/status\/1616158726229983259\">Twitter debate<\/a>, analysts eyed a potential continued <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a> of catch-up between gold and Bitcoin, which researcher and data analyst James V. Straten argued had been a \u201cmirror image\u201d of each other in 2022.<\/p>\n<p>\u201cMy bet BTC closes that gap soon,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jimmyvs24\/status\/1616161314547580955\">said<\/a> while discussing the market implications of Federal Reserve policy. <\/p>\n<p>Straten added that BTC\/USD had already \u201cretraced the entire FTX collapse and <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 the end of the narrative for DCG,\u201d referring to ongoing problems for crypto finance conglomerate, Digital Currency Group.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/c09d9508-11ca-4c47-85bf-9021ddcb792d.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD vs. XAU\/USD 1-day line chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>As Cointelegraph reported, expectations previously called for a copycat move on Bitcoin after gold took an early lead in recovering from lows.<\/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 <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-eyes-21-4k-zone-as-analyst-predicts-btc-price-will-chase-gold\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin eyes $21.4K zone as analyst predicts BTC price will chase gold &#8220; Bitcoin (BTC) rose toward new multi-month highs on Jan. 20 as analysis predicted a new trading range above $18,000. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin price range &#8220;well defined&#8221; Data from Cointelegraph Markets Pro and TradingView showed BTC\/USD testing&#8230;<\/p>\n","protected":false},"author":1,"featured_media":541443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/6dc6ff79-675d-4b7f-b951-b6597b4316ed.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,71835,73785],"class_list":["post-541442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-gold","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541442","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=541442"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/541442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/541443"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=541442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=541442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=541442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}