{"id":466406,"date":"2021-06-29T17:45:55","date_gmt":"2021-06-29T17:45:55","guid":{"rendered":"https:\/\/uniquehot.com\/?p=466406"},"modified":"2024-06-11T13:56:39","modified_gmt":"2024-06-11T13:56:39","slug":"bitcoin-monthly-support-until-14k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-monthly-support-until-14k\/","title":{"rendered":"Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost"},"content":{"rendered":"<p><a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-weekly-support-holds-next\/\">The bulls are given signs of conviction, as Bitcoin reclaims more ground.<\/a> At the time of writing, BTC\u2019s trades at $36,267 with sideways movement in the 1-hour chart and moderate gains in the 7-day and 30-day chart with 14.2% and 4.2%.<\/p>\n<figure id=\"attachment_466440\" aria-describedby=\"caption-attachment-466440\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-466440 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-22.png?resize=860%2C512\" alt=\"Bitcoin BTC BTCUSD\" width=\"860\" height=\"512\"><figcaption id=\"caption-attachment-466440\" class=\"wp-caption-text\">BTC pushes into resistance in the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n<p>Some traders have begun to flip bullish as <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/ricardo-salinas-pliego-bitcoin-should-be-part-of-every-investors-portfolio\/\">Bitcoin printed its first green candle in the weekly chart.<\/a> The first cryptocurrency by market cap has faced a sell-off during the past 2 months and dropped from an all-time high at $64,000.<\/p>\n<p>Although the outlook seems bullish in the short term, many are worried about an extension of the downtrend. Pseudonym trader \u201cDonAlt\u201d has been looking at Bitcoin monthly candle to find potential support areas.<\/p>\n<p>The trader believes that there are indicators of a potential crash, bigger than the ones seen so far in 2021. Based on the BTC October monthly candle of 2020, $14,000 will act as support if the market \u201cnukes\u201d.<\/p>\n<blockquote><p>IF the market should crash I&#8217;ve got. Decent sized bids around $14000 BTC and $800 ETH. Smaller ones around $20k BTC and $1400 ETH. Not sure I&#8217;ll ever get filled but those are the only areas that are somewhat close to price that are decent enough to trade off of<\/p><\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$BTC<\/a> monthly update:<\/p>\n<p>$13.8k came and went in a flash.<br \/>HTF breakouts tend to be violent and this one sure was.<\/p>\n<p>$14k is now the best support we&#39;ve got.<br \/>Worst comes to worst I&#39;ll be there buying.<\/p>\n<p>Can&#39;t really use the monthly for anything else given how far from support we are <a href=\"https:\/\/t.co\/TT6j6mTcGN\" rel=\"nofollow\">pic.twitter.com\/TT6j6mTcGN<\/a><\/p>\n<p>&mdash; DonAlt (@CryptoDonAlt) <a href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/70739713?ref_src=twsrc%5Etfw\" rel=\"nofollow\">June 29, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2>Bitcoin Price Short Term Targets And Support Areas<\/h2>\n<p>Economist and trader Micha\u00ebl van de Poppe <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/38770699\" target=\"_blank\" rel=\"noopener nofollow\">classified<\/a> Bitcoin\u2019s latest price action as a strong move above resistance levels. Investors should keep an eye on $35,000, if BTC\u2019s price managed to stay above these levels, the next target is located around the $38,000 area.<\/p>\n<figure id=\"attachment_466441\" aria-describedby=\"caption-attachment-466441\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-466441 size-large\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-23.png?resize=860%2C423\" alt=\"Bitcoin BTC BTCUSD\" width=\"860\" height=\"423\"><figcaption id=\"caption-attachment-466441\" class=\"wp-caption-text\">Source: Micha\u00ebl van de Poppe<\/figcaption><\/figure>\n<p>As van de Poppe said, <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-hash-rate-goes-on-death-spiral-post-chinas-crackdown-on-miners\/\">BTC\u2019s next resistance could be a \u201ccritical breaker\u201d<\/a> for further upwards momentum. The chances of a breakout around those levels are high and, if the bulls have enough strength, the price could push into the $40,000 to $42,000 area. The trader added:<\/p>\n<blockquote><p>Funding remains to be negative, meaning that the majority is still eager to short the markets. The sentiment is still on the ground, understandable, through which FOMO can be fueled even more at a later stage. The higher we get -&gt; the more FOMO we&#8217;ll see with Bitcoin.<\/p><\/blockquote>\n<p>However, Bitcoin must hold that area to sustain a move deep into previous highs. During the past weeks, BTC has been rejected precisely around the $40,000 area. Thus, van de Poppe doesn\u2019t rule out a re-test of the lows at $30,000.<\/p>\n<blockquote><p>Now, I&#8217;d like to see it hold as support in order to continue moving to $38,000. Preferably even without a retest and just continuation towards those next levels. Overall -&gt; good signals on the markets.<\/p><\/blockquote>\n<p>For altcoins such as <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-still-below-2k\/\">Ethereum<\/a>, <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-will-overtake-bitcoin\/\">Cardano<\/a>, XRP, and others, the outlooks seem less optimistic in the short term. Bitcoin dominance has begun to pick up momentum and it could gain further traction as the market recovers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bulls are given signs of conviction, as Bitcoin reclaims more ground. At the time of writing, BTC\u2019s trades at $36,267 with sideways movement in the 1-hour chart and moderate gains in the 7-day and 30-day chart with 14.2% and 4.2%. Some traders have begun to flip bullish as Bitcoin printed its first green candle in the weekly chart. The first cryptocurrency by market cap has faced a sell-off during the past 2 months and dropped from an all-time high at $64,000. Although the outlook seems bullish in the short term, many are worried about an extension of the downtrend. Pseudonym trader \u201cDonAlt\u201d has been looking at Bitcoin monthly candle to find potential support areas. The trader believes that there are indicators of a potential crash, bigger than the ones seen so far in 2021. Based on the BTC October monthly candle of 2020, $14,000 will act as support if the market \u201cnukes\u201d. IF the market should crash I&#8217;ve got. Decent sized bids around $14000 BTC and $800 ETH. Smaller ones around $20k BTC and $1400 ETH. Not sure I&#8217;ll ever get filled but those are the only areas that are somewhat close to price that are decent enough to trade off of $BTC monthly update: $13.8k came and went in a flash.HTF breakouts tend to be violent and this one sure was. $14k is now the best support we&#39;ve got.Worst comes to worst I&#39;ll be there buying. Can&#39;t really use the monthly for anything else given how far from support we are pic.twitter.com\/TT6j6mTcGN &mdash; DonAlt (@CryptoDonAlt) June 29, 2021 Bitcoin Price Short Term Targets And Support Areas Economist and trader Micha\u00ebl van de Poppe classified Bitcoin\u2019s latest price action as a strong move above resistance levels. Investors should keep an eye on $35,000, if BTC\u2019s price managed to stay above these levels, the next target is located around the $38,000 area. As van de Poppe said, BTC\u2019s next resistance could be a \u201ccritical breaker\u201d for further upwards momentum. The chances of a breakout around those levels are high and, if the bulls have enough strength, the price could push into the $40,000 to $42,000 area. The trader added: Funding remains to be negative, meaning that the majority is still eager to short the markets. The sentiment is still on the ground, understandable, through which FOMO can be fueled even more at a later stage. The higher we get -&gt; the more FOMO we&#8217;ll see with Bitcoin. However, Bitcoin must hold that area to sustain a move deep into previous highs. During the past weeks, BTC has been rejected precisely around the $40,000 area. Thus, van de Poppe doesn\u2019t rule out a re-test of the lows at $30,000. Now, I&#8217;d like to see it hold as support in order to continue moving to $38,000. Preferably even without a retest and just continuation towards those next levels. Overall -&gt; good signals on the markets. For altcoins such as Ethereum, Cardano, XRP, and others, the outlooks seem less optimistic in the short term. Bitcoin dominance has begun to pick up momentum and it could gain further traction as the market recovers.<\/p>\n","protected":false},"author":535,"featured_media":466413,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-466406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost<\/title>\n<meta name=\"description\" content=\"The bulls are given signs of conviction, as Bitcoin reclaims more ground. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/uniquehot.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost","description":"The bulls are given signs of conviction, as Bitcoin reclaims more ground. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/uniquehot.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost","url":"http:\/\/uniquehot.com\/news\/bitcoin-monthly-support-until-14k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-monthly-support-until-14k\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-22.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-22.jpg?fit=724%2C542"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2021-06-29T17:45:55Z","datePublished":"2021-06-29T17:45:55Z","dateModified":"2024-06-11T13:56:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst: No Bitcoin Monthly Support Until $14K If Current Level Is Lost\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-monthly-support-until-14k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-monthly-support-until-14k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Bitcoin-BTC-BTCUSD-22.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/06\\\/Bitcoin-BTC-BTCUSD-22.jpg?fit=724%2C542\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2021-06-29T17:45:55Z\",\"datePublished\":\"2021-06-29T17:45:55Z\",\"dateModified\":\"2024-06-11T13:56:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/06\/Bitcoin-BTC-BTCUSD-22.jpg?fit=724%2C542","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/466406"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=466406"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/466406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/466413"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=466406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=466406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=466406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}