{"id":1712,"date":"2022-02-06T15:50:34","date_gmt":"2022-02-06T15:50:34","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=1712"},"modified":"2022-02-06T15:50:34","modified_gmt":"2022-02-06T15:50:34","slug":"bitcoin-rejected-after-attacking-42k-as-trader-says-btc-price-impulse-move-not-done-yet","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=1712","title":{"rendered":"Bitcoin rejected after attacking $42K as trader says BTC price impulse move not &#8216;done yet&#8217;"},"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) zoned in on a multi-week high for the weekly close on Feb. 6 as a calm weekend helped fragile sentiment.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Bitcoin should flip $41,000 to support\u00a0<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView\u00a0followed a mercifully non-volatile weekend for BTC\/USD, which continued to test $42,000 resistance while retaining $40,000 as support.<\/p>\n<p>Friday&#8217;s unexpected gap upward\u00a0initially resulted in misgivings over a price &#8220;fakeout,&#8221; but at the time of writing, no significant retracement had entered.<\/p>\n<p>&#8220;I do not believe this Bitcoin impulse is done,&#8221; popular trader and analyst TechDev announced.<\/p>\n<p>Other comments focused on what could be a more sustainable price transformation, William Clemente eyeing $41,000 as a support-resistance flip to secure an attack on levels closer to $50,000 next.<\/p>\n<p>&#8220;Pretty straightforward price action-wise for BTC,&#8221; he tweeted in fresh analysis on the day. <\/p>\n<h2>&#8220;Bidding green box(es); would like to see a higher low set for continuation. Flip the 40-41k area as support and can start eyeing 47K which is PoB in confluence with yearly open and STH realized price. Final major area is 58k.&#8221;<\/h2>\n<p><em>BTC\/USD annotated chart. Source: William Clemente\/ Twitter<\/em><\/p>\n<h2>&#8220;Constructive&#8221; market needed for altcoin gains<\/h2>\n<p>Fellow trader Pentoshi meanwhile said that the time could soon be right to take a position in altcoins.<\/p>\n<p><strong><em>Relative:\u00a0This bullish Ethereum options trade targets $3.1K ETH price with zero liquidation risk<\/em><\/strong><\/p>\n<p>These\u00a0suffered heavily in recent months and are now primed for a turnaround should Bitcoin&#8217;s own strength persist.<\/p>\n<p lang=\"en\" dir=\"ltr\">A few requirements <\/p>\n<p>Must have Bullish MS on both USD\/BTC pairs or no interest <\/p>\n<p>Must be above 1hr + 4hr ema\u2019s<\/p>\n<p>\u2014 Pentoshi  Forbes worst trader 40 years running (@Pentosh1) February 5, 2022<\/p>\n<p>While flat on the day, many of the top ten cryptocurrencies by market cap produced significant gains through the week, among them Ether (ETH), up nearly 16% and above $3,000 for the first time since Jan. 20.<\/p>\n<p><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><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-rejected-after-attacking-42k-as-trader-says-btc-price-impulse-move-not-done-yet\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) zoned in on a multi-week high for the weekly close on Feb. 6 as a calm weekend helped fragile sentiment. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin should flip $41,000 to support\u00a0 Data from Cointelegraph Markets Pro and TradingView\u00a0followed a mercifully non-volatile weekend for BTC\/USD, which continued to test $42,000 resistance while [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-1712","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\/1712","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=1712"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1712\/revisions"}],"predecessor-version":[{"id":1714,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/1712\/revisions\/1714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/1713"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}