{"id":6404,"date":"2022-08-15T03:05:49","date_gmt":"2022-08-15T03:05:49","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=6404"},"modified":"2022-08-15T03:05:49","modified_gmt":"2022-08-15T03:05:49","slug":"bitcoin-traders-still-favor-new-20k-lows-as-ether-hits-2k","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=6404","title":{"rendered":"Bitcoin traders still favor new $20K lows as Ether hits $2K"},"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) is still due to return to near $20,000, fresh analysis warns as BTC\/USD attempts to retest multi-month highs.\u00a0<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>Buy-the-dip set for invalidation at $20,700<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection.<\/p>\n<p>The pair had gained over $1,300 overnight, but as bulls again ran out of momentum near crucial resistance, few were optimistic over Bitcoin avoiding a deeper comedown.<\/p>\n<p>\u201cOne last high to rekt early shorts,\u201d popular trading account Il Capo of Crypto told Twitter followers.<\/p>\n<p>Similarly cautious was fellow trader Jibon, who said that he would even prefer to wait and \u201cbuy higher\u201d than spot price to rule out any trend reversals.<\/p>\n<p lang=\"en\" dir=\"ltr\">If you see my tweet and buy $BTC at 18-19K, Then you are in 30% profit (without leverage).<\/p>\n<p>Honestly saying, Right now, I don&#8217;t feel Safe. I will buy higher. $BTC $ETH $SPX $NASDAQ<\/p>\n<p>\u2014 Trader_J (@Trader_Jibon) August 12, 2022<\/p>\n<p>More bullish was trading account Credible Crypto, who argued that any corrections would still be bullish unless $20,700 was broken.<\/p>\n<p>\u201cRelief went a big higher than expected but looks like a liq grab of local highs and still think a move down to green before continuation to 28k+ makes most sense,\u201d he commented on an accompanying chart:<\/p>\n<p>\u201cCleaned up the chart a bit to make things more clear. Invalidation at 20.7k until then bullish af on any dips.\u201d<em>BTC\/USD annotated chart. Source: Credible Crypto\/ Twitter<\/em><\/p>\n<p>\u201cTargeting high 20s of $27,000 &#8211; $28,000 as long as we remain above the range high,\u201d Crypto Tony added, continuing a strategy from earlier in the week with $24,500 a key support level.<\/p>\n<h2>Ethereum returns to $2,000 after 11-week hiatus<\/h2>\n<p>On altcoins, meanwhile, it was Ether (ETH) in the driving seat after an overnight surge took ETH\/USD above $2,000 for the first time since May.<\/p>\n<p><strong><em>Related:\u00a0Crypto markets bounced and sentiment improved, but retail has yet to FOMO<\/em><\/strong><\/p>\n<p>At $2,020 so far, the pair achieved its best performance since May 23, seeking to consolidate near the highs at the time of writing.\u00a0<\/p>\n<p><em>ETH\/USD 1-day candle chart (Binance). Source: TradingView<\/em><\/p>\n<p>While on-chain analyst Material Scientist alluded to the worst being yet to come for ETH bulls, Ether\u2019s crypto market cap share nonetheless crossed 20%, while Bitcoin\u2019s fell under 40%, according to data from CoinMarketCap.<\/p>\n<p><em>Bitcoin dominance 1-week candle chart. Source: TradingView<\/em><\/p>\n<p>As Cointelegraph reported, a dedicated indicator already called the start of alt season with a stronger signal than at any time since June 2021 this month.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><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-traders-still-favor-new-20k-lows-as-ethereum-hits-2k\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) is still due to return to near $20,000, fresh analysis warns as BTC\/USD attempts to retest multi-month highs.\u00a0 BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Buy-the-dip set for invalidation at $20,700 Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD staging a second run-up to near $25,000 on Aug. 13, so far seeing rejection. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":6405,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-6404","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\/6404","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=6404"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6404\/revisions"}],"predecessor-version":[{"id":6406,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/6404\/revisions\/6406"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/6405"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6404"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}