{"id":27476,"date":"2020-08-19T20:10:05","date_gmt":"2020-08-19T17:10:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27476"},"modified":"2025-08-26T21:02:31","modified_gmt":"2025-08-26T18:02:31","slug":"trader-explains-what-to-expect-from-bitcoins-price","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/trader-explains-what-to-expect-from-bitcoins-price\/","title":{"rendered":"Trader explains what to expect from Bitcoin’s price"},"content":{"rendered":"

The trader Ilya Meshcheryakov<\/a> explains the current market situation.<\/p>\n

<\/p>\n

Over the past week Bitcoin attempted to move below $11,300 as well as to breach the $12,000 mark. In the end we got exactly what I warned about earlier \u2014 BTC has been stuck in the $11,000-$12,000 range for a long time, only periodically offering volatility for long- and short-squeezes.<\/p>\n

The dominant medium-term scenario has not changed, but Bitcoin is likely to show a few more squeezes. First to be squeezed out will be the buyers. Despite yesterday’s drop to $11,600, there are still many zones of likely stop-loss levels for buyers \u2014 below $11,500 and $11,300 (marked on the chart).<\/p>\n

\"Trader<\/p>\n

Possible zones of stop-losses for buyers (marked in red on the right). The 30-minute BTC\/USDT chart from TradingView.<\/p>\n<\/div>\n

As for the sellers, they were already punished during the move up to $12,460. Gains with sharp declines alternated twice. Most likely, in the near term they will be left alone, and a rise above $12,200 will be aimed at continuing the trend.<\/p>\n

\"Trader<\/p>\n

Short squeezes with a quick rebound on a break of $12,000 (arrows indicate) on a small time frame. Five-minute BTC\/USDT from TradingView.<\/p>\n<\/div>\n

Long-term prospects are unchanged \u2014 even though the first target level of $12,300 was reached, this cannot really be called the end of the global uptrend. The accumulation zone of $8,800-$9,900 was too wide, and now the intermediate zone of $11,000-$12,000. The genuine long-term target for the uptrend remains $13,100.<\/p>\n

At present any exit from the consolidation is tied to squeezes, and only a few altcoins show returns, but they have a complex selection dynamics. Medium-term prospects for the market are more negative, while the long term looks fairly solid.<\/p>\n

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The trader Ilya Meshcheryakov explains the current market situation.<\/p>\n","protected":false},"author":1,"featured_media":27477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-27476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27476","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=27476"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27476\/revisions"}],"predecessor-version":[{"id":27478,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27476\/revisions\/27478"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27477"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}