{"id":107017,"date":"2021-01-04T06:03:09","date_gmt":"2021-01-04T06:03:09","guid":{"rendered":"https:\/\/precoinnews.com\/?p=107017"},"modified":"2021-01-04T06:03:09","modified_gmt":"2021-01-04T06:03:09","slug":"bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/","title":{"rendered":"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next"},"content":{"rendered":"<ul>\n<li>Bitcoin has seen some wild price action over the past couple of weeks, only being rivaled by that seen during past parabolic rallies, like the one in 2017<\/li>\n<li>The cryptocurrency is showing few signs of slowing down anytime soon, as bulls have taken clear control of its price action<\/li>\n<li>Where it trends in the mid-term will likely depend on whether or not it can form a strong base of support within the lower-$30,000 region<\/li>\n<li>Bulls are trying to defend against a dip below this level, and its short-term consolidation has proven to be incredibly positive for altcoins like Ethereum<\/li>\n<li>Where the market trends in the coming few days will likely depend on whether or not BTC can enter a consolidation phase<\/li>\n<\/ul>\n<p>Bitcoin\u2019s rally is truly turning parabolic. The cryptocurrency\u2019s recent break above $30,000 sparked some massive inflows of buying pressure that allowed it to surge to highs of over $34,000.<\/p>\n<p>It has since entered a consolidation phase as bulls and bears vie for control over its price action.<\/p>\n<p>This consolidation may allow for altcoins to see continued momentum, with Ethereum posting a massive breakout towards $1,000 today while the DeFi sector also starts gaining some momentum.<\/p>\n<p>One trader is now noting that BTC has entered what he calls a market pivot, which comes as sellers get trapped by the strong rebound off of $30,000.<\/p>\n<h2><strong>Bitcoin Consolidates Following Massive Upsurge<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>At the time of writing, Bitcoin is trading up just under 2% at its current price of $32,800. This marks a massive surge from recent lows of $30,000 set during a mass selloff event seen yesterday.<\/p>\n<p>Where the crypto trends in the mid-term should depend largely on whether or not the lower-$30,000 region can continue being ardently defended by buyers.<\/p>\n<h2><strong>BTC Sees \u201cMarket Pivot\u201d as Bulls Trap Bears<\/strong><strong>\u00a0<\/strong><\/h2>\n<p>The recent dip to $30,000 trapped a significant number of sellers, which may fuel a continued rise in the mid-term.<\/p>\n<p>One analyst noted that this comes as Bitcoin completed a \u201cmarket pivot\u201d that has put it fully into bulls\u2019 control.<\/p>\n<blockquote>\n<p>\u201cBTC: Market pivot it was&#8230; That historically large sum of sellers are now trapped or have either already bought back in adding fuel to the recovery rally&#8230; Looking for setups at yesterday&#8217;s high or today&#8217;s open.\u201d<\/p>\n<\/blockquote>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/bitcoinist.com\/wp-content\/uploads\/2021\/01\/Eq0E_ShXMAQ2tn5-980x499.png\"><\/p>\n<pre>Image Courtesy of HornHairs. Source: BTCUSD on TradingView.<\/pre>\n<p>The coming few days should shed some light on Bitcoin\u2019s near-term outlook, as well as how it may influence the rest of the market.<\/p>\n<pre>Featured image from Unsplash.\nCharts from TradingView.<\/pre>\n<p>Source: <a href=\"https:\/\/bitcoinist.com\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has seen some wild price action<\/p>\n","protected":false},"author":3,"featured_media":107016,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"Bitcoin has seen some wild price action\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-04T06:03:09+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotomalith-d-karunarathne-qIRJeKdieKA-unsplash-1920x1179-1.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\",\"url\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\",\"name\":\"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News\",\"isPartOf\":{\"@id\":\"https:\/\/precoinnews.com\/#website\"},\"datePublished\":\"2021-01-04T06:03:09+00:00\",\"dateModified\":\"2021-01-04T06:03:09+00:00\",\"author\":{\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\"},\"breadcrumb\":{\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/precoinnews.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bitcoin\",\"item\":\"https:\/\/precoinnews.com\/category\/bitcoin\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/precoinnews.com\/#website\",\"url\":\"https:\/\/precoinnews.com\/\",\"name\":\"Pre Coin News\",\"description\":\"precoinnews.com\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/precoinnews.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a\",\"name\":\"mediabest\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/precoinnews.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g\",\"caption\":\"mediabest\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/","og_locale":"en_US","og_type":"article","og_title":"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News","og_description":"Bitcoin has seen some wild price action","og_url":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/","og_site_name":"Pre Coin News","article_published_time":"2021-01-04T06:03:09+00:00","author":"mediabest","twitter_card":"summary_large_image","twitter_image":"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/01\/ccryptafotomalith-d-karunarathne-qIRJeKdieKA-unsplash-1920x1179-1.jpg","twitter_misc":{"Written by":"mediabest","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/","url":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/","name":"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next - Pre Coin News","isPartOf":{"@id":"https:\/\/precoinnews.com\/#website"},"datePublished":"2021-01-04T06:03:09+00:00","dateModified":"2021-01-04T06:03:09+00:00","author":{"@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a"},"breadcrumb":{"@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/precoinnews.com\/bitcoin\/bitcoin-forms-ideal-market-pivot-as-bulls-trap-sellers-what-comes-next\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/precoinnews.com\/"},{"@type":"ListItem","position":2,"name":"Bitcoin","item":"https:\/\/precoinnews.com\/category\/bitcoin\/"},{"@type":"ListItem","position":3,"name":"Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next"}]},{"@type":"WebSite","@id":"https:\/\/precoinnews.com\/#website","url":"https:\/\/precoinnews.com\/","name":"Pre Coin News","description":"precoinnews.com","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/precoinnews.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/ad0e9920e03d3b41c7ad02a18375d76a","name":"mediabest","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/precoinnews.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f5f13cb3b94fc348d515c0951f6ca073?s=96&d=mm&r=g","caption":"mediabest"}}]}},"_links":{"self":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107017"}],"collection":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/comments?post=107017"}],"version-history":[{"count":0,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/posts\/107017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media\/107016"}],"wp:attachment":[{"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/media?parent=107017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/categories?post=107017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/precoinnews.com\/wp-json\/wp\/v2\/tags?post=107017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}