{"id":13338,"date":"2023-09-22T14:57:58","date_gmt":"2023-09-22T14:57:58","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=13338"},"modified":"2023-09-22T14:57:59","modified_gmt":"2023-09-22T14:57:59","slug":"bitcoin-fails-to-recoup-post-fed-losses-as-20k-btc-price-returns-to-radar","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=13338","title":{"rendered":"Bitcoin fails to recoup post-Fed losses as $20K BTC price returns to radar"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) circled lower after the Sept. 21 Wall Street open as $20,000 BTC price predictions resurfaced.<\/p>\n<p><em>BTC\/USD 1-hour chart. Source: TradingView<\/em><\/p>\n<h2>Bitcoin analysis: Hype, FOMO and a \u201cslow grind\u201d to $28,500<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView covered a lackluster 24 hours for BTC price action, with $27,000 fading from view.<\/p>\n<p>The aftermath of the United States Federal Reserve interest rates pause offered little for Bitcoin bulls, BTC\/USD having dipped almost $700 the day prior.<\/p>\n<p>Now, market participants returned to a more conservative outlook in the absence of tangible volatility. <\/p>\n<p>\u201cSomething like this over the course of October would be perfect i would say,\u201d popular trader Crypto Tony told X (formerly Twitter) subscribers.<\/p>\n<p>\u201cSlow grind up to $28,500, followed by hype and FOMO, to then dump it once more.\u201d<em>BTC\/USD annotated chart. Source: Crypto Tony\/X<\/em><\/p>\n<p>Monitoring resource Material Indicators meanwhile eyed a so-called \u201cdeath cross\u201d on the weekly chart.<\/p>\n<p>The death cross occurs when certain moving averages (MAs) collide, and here, the 21-week MA was on course to head below the 200-week equivalent.<\/p>\n<p>\u201cThe 21-Week and the 200-Week Moving Averages are on a collision course for a DeathCross on the BTC Weekly candle Close\/Open,\u201d it warned in an X post on the day. <\/p>\n<p>Material Indicators referenced a potential lower low (LL) at the weekly close.<\/p>\n<p>\u201cThe 50-Week MA, may provide some temporary support and even trigger a short term rally, but if PA takes us there, it will print a LL which I believe opens the door to grind down to test $20k,\u201d it added.<\/p>\n<p><em>BTC\/USD 1-week chart with 21, 200 MA. Source: TradingView<\/em><\/p>\n<p>On the horizon was the liquidation of crypto assets by defunct exchange FTX \u2014 an event that could contribute to BTC selling pressure.<\/p>\n<p>\u201cIf there is a base case for hopium, it\u2019s that FTX liquidators don\u2019t want to see too much price erosion before they start distributing, and may try to prop price up a little longer. That\u2019s purely speculative, but not out of the realm of possibilities,\u201d the X post concluded.<\/p>\n<h2>Traders eye bargain BTC price levels<\/h2>\n<p>More optimistic takes included that from popular trader and analyst CryptoCon, who maintained that Bitcoin was in the first innings of its next bull market.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin short-term holders \u2018panic\u2019 amid nearly 100% unrealized loss<\/em><\/strong><\/p>\n<p>\u201cDoesn\u2019t get much simpler than this. Bitcoin early and late Bull Market in green, Bear Market ends in red,\u201d he commented alongside a chart shortly following the Fed news.<\/p>\n<p lang=\"en\" dir=\"ltr\">Doesn&#8217;t get much simpler than this.#Bitcoin early and late Bull Market in green, Bear Market ends in red.<\/p>\n<p>The one exception to this on the Kivanc Supertrend was the 2020 black swan.<\/p>\n<p>The only thing that can cause a sell signal is\u2026 pic.twitter.com\/8F5M74LC44<\/p>\n<p>\u2014 CryptoCon (@CryptoCon_) September 21, 2023<\/p>\n<p>Just as confident was fellow trader Jelle, who suspected a prime buying opportunity for prospective BTC investors at current prices.<\/p>\n<p lang=\"en\" dir=\"ltr\">Historically, the &#8220;post-bottom consolidation&#8221; phase has been a great time to buy.<\/p>\n<p>I don&#8217;t think this time will be different.#Bitcoin pic.twitter.com\/8WJ9ixz6Mr<\/p>\n<p>\u2014 Jelle (@CryptoJelleNL) September 22, 2023<\/p>\n<p>BTC\/USD traded at around $26,600 at the time of writing, making September gains equal to around 2.5% \u2014 still Bitcoin\u2019s best month since 2016.<\/p>\n<p>Per data from monitoring resource CoinGlass, Bitcoin has delivered losses every September since.<\/p>\n<p><em>BTC\/USD monthly returns (screenshot). Source: CoinGlass<\/em><\/p>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-fails-recoup-post-fed-losses-20k-btc-price\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) circled lower after the Sept. 21 Wall Street open as $20,000 BTC price predictions resurfaced. BTC\/USD 1-hour chart. Source: TradingView Bitcoin analysis: Hype, FOMO and a \u201cslow grind\u201d to $28,500 Data from Cointelegraph Markets Pro and TradingView covered a lackluster 24 hours for BTC price action, with $27,000 fading from view. The aftermath [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":13339,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-13338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13338"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13338\/revisions"}],"predecessor-version":[{"id":13340,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/13338\/revisions\/13340"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/13339"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}