{"id":483771,"date":"2022-02-15T18:00:16","date_gmt":"2022-02-15T18:00:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=483771"},"modified":"2024-06-11T14:11:33","modified_gmt":"2024-06-11T14:11:33","slug":"bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level\/","title":{"rendered":"Bitcoin Breaks Above $44K, Can Bulls Push Price To Next Level?"},"content":{"rendered":"<p>Bitcoin has managed to break above considerable resistance and now trades just north of the $44,000 mark. The first crypto by market cap took another swing at the low of its current levels, after a rejection near the $46,000 mark.<\/p>\n<figure id=\"attachment_483778\" aria-describedby=\"caption-attachment-483778\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-483778 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/Bitcoin-BTC-BTCUSD-9.png?resize=860%2C386\" alt=\"Bitcoin BTC BTCUSD\" width=\"860\" height=\"386\"><figcaption id=\"caption-attachment-483778\" class=\"wp-caption-text\">BTC with bullish momentum on the daily chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/1GNYms9y\/?symbol=BITSTAMP%3ABTCUSD\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD Tradingview<\/a><\/figcaption><\/figure>\n<p>As NewsBTC has been <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-holders-brace-for-storm-will-btc-break-through-44k-barrier\/\" target=\"_blank\" rel=\"noopener \">reporting for the past weeks<\/a>, Bitcoin was poised to see a relief rally, at least in the short term, when it reached the high area around $30,000s.<\/p>\n<p>Although the situation between Russia and Ukraine seems to be escalating, the market appears to be pricing in any event to the upside. Both parties seem to have incentives to prevent a full-on conflict, a scenario that could prove unfavorable for the global markets.<\/p>\n<p style=\"text-align: center\"><strong>Related Reading | <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-needs-to-clear-43800\/\" target=\"_blank\" rel=\"noopener \">TA: Why Bitcoin Needs To Clear $43,800 For Hopes of a Fresh Rally<\/a><\/strong><\/p>\n<p>Yesterday, Bitcoin saw a low near $42,000, but buying pressure propelled BTC\u2019s price above $44,000 where a lot of ask orders were concentrated. A portion of these orders was removed and added higher, per data provided by Material Indicators.<\/p>\n<p>Unless bulls continue to display strength or these ask orders are removed\/fill, as seen in the chart below, BTC\u2019s price could see a local resistance and a potential short-term pullback.<\/p>\n<figure id=\"attachment_483777\" aria-describedby=\"caption-attachment-483777\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-483777 size-large\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/Bitcoin-BTC-BTCUSD-8.png?resize=860%2C233\" alt=\"Bitcoin BTC BTCUSD\" width=\"860\" height=\"233\"><figcaption id=\"caption-attachment-483777\" class=\"wp-caption-text\">BTC&#8217;s price (in blue) breaks above considerable resistance (ask order above price). Source: Material Indicators<\/figcaption><\/figure>\n<p>If momentum maintains its current course, Bitcoin could quickly approach the $50,000 mark as there seems to be little resistance above $45,600. In this scenario, bulls could score more gains, but flipping the next area of resistance into support will be decisive.<\/p>\n<p>On the Russia-Ukrainian situation, Material Indicators <a href=\"https:\/\/twitter.com\/MI_Algos\/status\/69054471\" target=\"_blank\" rel=\"noopener nofollow\">commented<\/a> the following via their Twitter handle:<\/p>\n<blockquote><p>Not sure if the reports from Ukraine: Russia are accurate or if Putin is going for the sucker punch strategy, but the markets seem to like the reports<\/p><\/blockquote>\n<h2>The FED Policy Could Be Bullish For Bitcoin?<\/h2>\n<p>Talking about the recent bullish momentum, QCP Capital, <a href=\"https:\/\/twitter.com\/QCPCapital\/status\/72275201\" target=\"_blank\" rel=\"noopener nofollow\">claimed<\/a> BTC\u2019s price saw an increase in resistance as the U.S. published its recent Consumer Price Index (CPI) metrics.<\/p>\n<p>Used to measure inflation in the U.S. dollar, the metric has been scoring higher. Previously it used to operate as a tailwind for Bitcoin, but recently it has shifted to a headwind as it could accelerate the interest rate hike by the U.S. Federal Reserve (FED).<\/p>\n<p>However, QCP Capital warns on a potential danger that has been dismissed by the market, Quantitative Tightening (QT):<\/p>\n<blockquote><p>While the market has been fixated on rate hikes, our primary concern has actually been Quantitative Tightening (QT), which is the shrinking of the Fed balance sheet. More specifically, we want to know how QT will be carried out.<\/p><\/blockquote>\n<p style=\"text-align: center\"><strong>Related Reading |<\/strong> <strong><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-fundamentals-show-signs\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Fundamentals Show Signs Of Fresh Rally, Here Are Things To Consider<\/a><\/strong><\/p>\n<p>Depending on how the FED executes its QT policy, either by selling assets or by letting \u201csecurities mature without replacing them\u201d, the market could react to the upside or with more bearish price action. QCP Capital believes a passive QT policy will be bullish for Bitcoin and the market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has managed to break above considerable resistance and now trades just north of the $44,000 mark. The first crypto by market cap took another swing at the low of its current levels, after a rejection near the $46,000 mark. As NewsBTC has been reporting for the past weeks, Bitcoin was poised to see a relief rally, at least in the short term, when it reached the high area around $30,000s. Although the situation between Russia and Ukraine seems to be escalating, the market appears to be pricing in any event to the upside. Both parties seem to have incentives to prevent a full-on conflict, a scenario that could prove unfavorable for the global markets. Related Reading | TA: Why Bitcoin Needs To Clear $43,800 For Hopes of a Fresh Rally Yesterday, Bitcoin saw a low near $42,000, but buying pressure propelled BTC\u2019s price above $44,000 where a lot of ask orders were concentrated. A portion of these orders was removed and added higher, per data provided by Material Indicators. Unless bulls continue to display strength or these ask orders are removed\/fill, as seen in the chart below, BTC\u2019s price could see a local resistance and a potential short-term pullback. If momentum maintains its current course, Bitcoin could quickly approach the $50,000 mark as there seems to be little resistance above $45,600. In this scenario, bulls could score more gains, but flipping the next area of resistance into support will be decisive. On the Russia-Ukrainian situation, Material Indicators commented the following via their Twitter handle: Not sure if the reports from Ukraine: Russia are accurate or if Putin is going for the sucker punch strategy, but the markets seem to like the reports The FED Policy Could Be Bullish For Bitcoin? Talking about the recent bullish momentum, QCP Capital, claimed BTC\u2019s price saw an increase in resistance as the U.S. published its recent Consumer Price Index (CPI) metrics. Used to measure inflation in the U.S. dollar, the metric has been scoring higher. Previously it used to operate as a tailwind for Bitcoin, but recently it has shifted to a headwind as it could accelerate the interest rate hike by the U.S. Federal Reserve (FED). However, QCP Capital warns on a potential danger that has been dismissed by the market, Quantitative Tightening (QT): While the market has been fixated on rate hikes, our primary concern has actually been Quantitative Tightening (QT), which is the shrinking of the Fed balance sheet. More specifically, we want to know how QT will be carried out. Related Reading | Bitcoin Fundamentals Show Signs Of Fresh Rally, Here Are Things To Consider Depending on how the FED executes its QT policy, either by selling assets or by letting \u201csecurities mature without replacing them\u201d, the market could react to the upside or with more bearish price action. QCP Capital believes a passive QT policy will be bullish for Bitcoin and the market.<\/p>\n","protected":false},"author":535,"featured_media":482961,"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-483771","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Breaks Above $44K, Can Bulls Push Price To Next Level?<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) has managed to break above considerable resistance and now trades just north of the $44,000 mark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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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. 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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:\/\/ktsl888.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Breaks Above $44K, Can Bulls Push Price To Next Level?","url":"http:\/\/ktsl888.com\/news\/bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/bitcoin-bull-trend-iStock-1314042576.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/bitcoin-bull-trend-iStock-1314042576.jpeg?fit=1296%2C810"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2022-02-15T18:00:16Z","datePublished":"2022-02-15T18:00:16Z","dateModified":"2024-06-11T14:11:33Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Breaks Above $44K, Can Bulls Push Price To Next Level?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-breaks-above-44k-can-bulls-push-price-to-next-level\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/bitcoin-bull-trend-iStock-1314042576.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/02\\\/bitcoin-bull-trend-iStock-1314042576.jpeg?fit=1296%2C810\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-02-15T18:00:16Z\",\"datePublished\":\"2022-02-15T18:00:16Z\",\"dateModified\":\"2024-06-11T14:11:33Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/02\/bitcoin-bull-trend-iStock-1314042576.jpeg?fit=1296%2C810","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/483771"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=483771"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/483771\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/482961"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=483771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=483771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=483771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}