{"id":542913,"date":"2023-01-24T13:28:48","date_gmt":"2023-01-24T10:28:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\/"},"modified":"2023-01-24T13:28:48","modified_gmt":"2023-01-24T10:28:48","slug":"this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\/","title":{"rendered":"# This $25K BTC price target would spell misery for Bitcoin shorters"},"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-6a3ab5972bd6f\" 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-6a3ab5972bd6f\" 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\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\/#%E2%80%9D_This_25K_BTC_price_target_would_spell_misery_for_Bitcoin_shorters_%E2%80%9C\" >&#8221; This $25K BTC price target would spell misery for Bitcoin shorters &#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\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\/#Bitcoin_price_rally_near_%E2%80%9Ca_lot_of_liquidity%E2%80%9D\" >Bitcoin price rally near &#8220;a lot of liquidity&#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\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\/#August_2022_highs_keep_bulls_in_check\" >August 2022 highs keep bulls in check<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_This_25K_BTC_price_target_would_spell_misery_for_Bitcoin_shorters_%E2%80%9C\"><\/span>&#8221; This $25K BTC price target would spell misery for Bitcoin shorters &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-5a4050f8>Bitcoin (BTC) has an important new price target for bulls to meet \u2014 and it is closer than it seems.<\/p>\n<p>As <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PositiveCrypto\/status\/1617736827104026624\/photo\/1\">noted<\/a> by Philip Swift, co-founder of trading suite Decentrader, $25,000 is now a critical BTC price level.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bitcoin_price_rally_near_%E2%80%9Ca_lot_of_liquidity%E2%80%9D\"><\/span>Bitcoin price rally near &#8220;a lot of liquidity&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After putting in 40% gains in January, Bitcoin continues to consolidate around the $23,000.<\/p>\n<p>Opinions are split as to what will h<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>en next \u2014 after more than a year of bear market, plenty of market participants expect a dramatic correction and even new multi-year lows of $12,000 or worse.<\/p>\n<p>Others believe that the good times can continue and even see BTC\/USD reach $30,000 before checking its relief rally.<\/p>\n<p>In the meantime, however, some are focused on another line in the sand much closer to current spot price. <\/p>\n<p>For Swift, the area around $25,000 is now especially significant. This, he noted in a tweet on Jan. 24, is where bears begin to get liquidated en masse.<\/p>\n<p>It is also the site of Bitcoin\u2019s 200-week moving average (WMA), a key trend line which has been absent from the chart since the middle of 2022, when it failed to act as support. Bitcoin has since spent a record amount of time below the 200WMA, which currently sits at around $24,750.<\/p>\n<p>\u201cThere is a lot of liquidity from $24,700 &#8211; $25,900 which lines up with the 200WMA and the area just above it,\u201d Swift commented.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/03ee4d5e-17ce-466b-96c6-9c2e30bf097e.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD liquidity chart (screenshot). Source: Decentrader<\/em><\/figcaption><\/figure>\n<p>Analysis of an accompanying <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.decentrader.com\/liquidity-maps\/?coin=btc\">liquidity chart<\/a> shows that leveraged short positions will start seeing liquidations once BTC\/USD passes $23,400 \u2014 so far, this is exactly where the rally has encountered momentum problems.<\/p>\n<p>\u201cThis level continues to act as resistance,\u201d trader and analyst Rekt Capital <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/rektcapital\/status\/1617538649545125896\/photo\/1\">wrote<\/a> in part of commentary about the topic, noting that Bitcoin\u2019s latest weekly close was also lower.<\/p>\n<blockquote><p>\u201cBTC needs to reclaim this ~$23400 as support to move higher, otherwise there is a risk of a new Lower High forming relative to the Summer 2022 highs.\u201d<\/p><\/blockquote>\n<p>Such a scenario would mean BTC\/USD fails to crack its local highs from August, these in themselves marking brief respite in the 77% drawdown from the all-time highs seen in November 2021.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/a18e6d8f-04aa-4075-88f1-26b7f629f3c9.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Rekt Capital\/ <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<h2><span class=\"ez-toc-section\" id=\"August_2022_highs_keep_bulls_in_check\"><\/span>August 2022 highs keep bulls in check<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Continuing, Rekt Capital drew attention to the fact that the summer highs also present a resistance zone on longer timeframes.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price stays near $23K as data shows hodlers not selling BTC<\/em><\/strong><\/p>\n<p>Analyzing the monthly chart in his latest <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=ulhheCt00I4\">YouTube update<\/a>, he underscored the need to break through that resistance, which is still &#8220;reaffirming itself.&#8221;<\/p>\n<p>&#8220;If this continues to be the case, then we could set ourselves up for a dip just to reaffirm this level as support,&#8221; he argued, referring to the monthly range lows, which Bitcoin lost thanks to the FTX debacle.<\/p>\n<p>A short-term prediction suggested that &#8220;some consolidation could take place for as long as it needs to take place before there is a break to either side of the range.&#8221;<\/p>\n<p>A <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> below the range low, Rekt Capital added, was nonetheless not out of the question.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-01\/fdcddba0-1f5d-441b-8d5e-c02eddbb0228.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD annotated chart. Source: Rekt Capital\/ Twitter<\/em><\/figcaption><\/figure>\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\/this-25k-btc-price-target-would-spell-misery-for-bitcoin-shorters\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; This $25K BTC price target would spell misery for Bitcoin shorters &#8220; Bitcoin (BTC) has an important new price target for bulls to meet \u2014 and it is closer than it seems. As noted by Philip Swift, co-founder of trading suite Decentrader, $25,000 is now a critical BTC price level. Bitcoin price rally near&#8230;<\/p>\n","protected":false},"author":1,"featured_media":542914,"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\/491defdc-355d-4cf5-8c38-9a8536ef4f86.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-542913","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\/542913","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=542913"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/542913\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/542914"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=542913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=542913"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=542913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}