Connect with us

Hi, what are you looking for?


Pro: Bitcoin’s region of maximum pressure likely in the $10K-$14.5K range

On-chain analyst Cauê Oliveira says benchmark cryptocurrency Bitcoin (BTC/USD) could see “maximum pressure” later in the year, highlighting the region around $14,500-$10,000 as the likely bottom for the 2022 bear market.

In a research piece titled ‘Bear Market Rally or the start of a new Bull Market?’, the BlockTrends analyst notes that despite the pain that has characterised the dip from the all-time highs set in 2021, the bear market at its current outlook is “mild” compared to both 2014 and 2018.

What next: new low, bear market rally or new bull market?

Bitcoin has dropped more than 7% in the past 24 hours to currently trade near $21,760 across major cryptocurrency exchanges and platforms. The declines, which have mirrored losses in the equities market, come after a brief rally to highs above $25,000 last week – a rally that saw BTC break above the crucial 200-week moving average.

Overall though, Bitcoin and the rest of the crypto market remains in a markedly clear bear market trend, with lows of $17,600 the trough of a decline that ensued after bulls topped at highs above $69,000 in November last year.

Yet, at current levels, Bitcoin is about 23% up since the June 2022 lows. In hitting above $25k, the gains seen last week had pushed BTC more than 45% from that low.

For comparison, the 2014 bear market saw short term rallies of up to 83% – enough to convince some that the pain was over. The scenario also repeated in 2018, with bear market recovery including rallies of up to 65% before fresh pain took prices to new lows.

Oliveira, pointing to the previous outlook, suggests another “local sales exhaustion” might not translate to a new bull market trend but potentially open up room for a retest of even lower support levels.

If the current movement is repeated, we will find the region of maximum pressure at the end of the year, starting in October. Within a trading range between $10,000 – $14,500.”

Bear Market Rally or the start of a new Bull Market?🤔

By comparing the amplitude and duration of the last long bearish periods in Bitcoin, we can see how painful the current downward movement is.

See below my latest research analysis content in English 👇#Bitcoin

— Cauê Oliveira 💊⚡ (@caueconomy) August 18, 2022

Notably, the dump to current lows or even below $20,000 may yet give way for fresh upside pressure and see BTC revisit recent highs. Bulls could even target fresh resistance in the $28k-$30k region (or higher).

The post Pro: Bitcoin’s region of maximum pressure likely in the $10K-$14.5K range appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Inflation appears to be on the decline. The Personal Consumption Expenditures Price Index (PCEPI), which is the Federal Reserve’s preferred measure of inflation, grew...


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023