Author: Cointelegraph By William Suberg

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Bitcoin batters longs as liquidations copy May 2021 run to $30,000

Bitcoin (BTC) has dealt significant pain to bulls in recent weeks, and now, fresh data shows just how much. In a tweet on Jan. 10, on-chain analytics firm Glassnode revealed that those longing BTC had suffered a rerun of last May, when BTC/USD began to fall toward $30,000. Long traders fail to “catch the knife”…
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‘Most bullish macro backdrop in 75 years’ — 5 things to watch in Bitcoin this week

Bitcoin (BTC) starts a new week in a strange place — one that is eerily similar to where it was this time last year. After what various sources have described as an entire 12 months of “consolidation,” BTC/USD is around $42,000 — almost exactly where it was in week two of January 2021. The ups…
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Bitcoin performs classic bounce at $40.7K as BTC price comes full circle from January 2021

Bitcoin (BTC) bounced off what is for some a key level on Jan. 9, closely mimicking events from September 2021.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Shorters will get rekt” at $40,700 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reversing course at around $40,700 to subsequently pass $42,000. The behavior, while uninspiring for…
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Bitcoin stabilizes at $42K as key moving average break from July reappears

Bitcoin (BTC) consolidated above $42,000 prior to Wall Street’s opening bell on Jan. 7 as more similarities to last year’s lows emerged. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC “very closely” mimicking May behavior Data from Cointelegraph Markets Pro and TradingView tracked a nervous Bitcoin market as BTC/USD avoided another retest of $40,000 support. Earlier,…
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Bitcoin may pass $30K September lows, trader warns

Bitcoin (BTC) scooped liquidity at new lows on Jan. 7 as 2022 continued to deliver uninspiring price action.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader: BTC price should close above $42,400 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting its lowest levels since September overnight, reaching $40,938 on Bitstamp. The pair had initially…
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Bitcoin price bounces off $42K as order book imbalance turns ‘crazy’

Bitcoin (BTC) briefly touched $43,000 prior to Wall Street opening on Jan. 6 as new market analysis offered bad news for bears.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Very similar to $30,000” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged after hitting its lowest levels in nearly six weeks. Amid six-month…
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Bitcoin fills $42K December price wick as analyst says ‘party just getting started’

Bitcoin (BTC) delivered fresh volatility on Jan. 6 as rangebound behavior saw its first shake-up in weeks. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Open interest remains high Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping overnight to hit $42,000 for the first time since December. Although not the upside breakout that many had…
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Bitcoin monthly RSI lowest since September 2020 in fresh ‘oversold’ signal

A key Bitcoin (BTC) metric has just reached its lowest levels since the months after the March 2020 market crash. As noted by popular analysts on Jan. 5, Bitcoin’s relative strength index (RSI) is printing a “hidden bullish divergence” on monthly timeframes — and if it plays out, they say, the result will be very…
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Bitcoin reaches for $47K as analysts agree BTC price consolidation cannot last

Bitcoin (BTC) recovered from new lows of $45,550 on Jan. 5 as analysts waited patiently for a “squeeze” to trigger fresh volatility. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst weighs prospect of “fakedown” towards $40,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the previous day’s levels near $47,000 on Binance at…
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Bitcoin open interest matches record high amid predictions of BTC price ‘fireworks’ this month

Bitcoin (BTC) is in line for “explosive” price action as derivatives markets return to form in 2022, a new forecast states. In a tweet on Jan. 4, Vetle Lunde, an analyst at Arcane Research, confirmed that BTC denominated open interest (OI) had returned to all-time highs seen in November. Open interest demands “fireworks” within weeks…
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