{"id":10189,"date":"2021-09-19T17:05:50","date_gmt":"2021-09-19T16:05:50","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=10189"},"modified":"2021-09-19T17:06:05","modified_gmt":"2021-09-19T16:06:05","slug":"btc-price-plummets-to-47k-as-weekly-close-neatly-tracks-bitcoin-futures-gapbtc-price-plummets-to-47k-as-weekly-close-neatly-tracks-bitcoin-futures-gap","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btc-price-plummets-to-47k-as-weekly-close-neatly-tracks-bitcoin-futures-gapbtc-price-plummets-to-47k-as-weekly-close-neatly-tracks-bitcoin-futures-gap\/","title":{"rendered":"BTC price plummets to $47K as weekly close neatly tracks Bitcoin futures gap"},"content":{"rendered":"\n
The weekly gain for BTC <\/a>buyers is minimal, as Saturday's progress returns to square one the next day.<\/h5>\n\n\n\n
\"BTC<\/figure>\n\n\n\n

On Sept. 19, Bitcoin \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>(BTC) retested $47,000 as the weekly close appeared to be hinged on the CME futures gap.<\/p>\n\n\n\n
\"BTC<\/figure>\n\n\n\n

Following the erasure of profits, Bitcoin <\/a>has come full circle<\/h2>\n\n\n\n

As the week came to a conclusion, data from Cointelegraph Markets Pro and TradingView revealed that the BTC\/USD pair was showing contradictory indications.<\/p>\n\n\n\n

The pair had witnessed a stronger surge on Saturday, which had later given way to range-bound behaviour despite a lack of apparent direction on Sunday.<\/p>\n\n\n\n

This is something that happens pretty frequently in the markets, according to Cointelegraph contributor Michael van de Poppe.<\/p>\n\n\n\n

“Slight rally on Saturday for Bitcoin, coming back down to CME close on Sunday. CME closed at $47,490 on Friday, seems to be that we're going to open there too later today.”<\/p><\/blockquote>\n\n\n\n

The closing price of Bitcoin futures could thus bring to a close what has been a cautiously optimistic week for hodlers, with the cryptocurrency's close last week coming in at closer to $46,000.<\/p>\n\n\n\n

The buy and sell levels on major exchanges are examined. Binance<\/a>, on the other hand, has revealed significant resistance at $49,000, which has gained credibility over the weekend. Buy support, on the other hand, was still valued at $44,000.<\/p>\n\n\n\n

\"BTC
BTC\/USD buy and sell levels (Binance) as of Sept. 19. Source: Material Indicators<\/em>
<\/figcaption><\/figure>\n\n\n\n

Altcoins perform copycat moves as the week draws to an end<\/h2>\n\n\n\n

In a similar vein, altcoins had a down day, with the top ten cryptocurrencies all suffering losses of approximately 2.5 percent, mirroring Bitcoin's performance.<\/p>\n\n\n\n

With a minor increase in losses, the Ethereum token<\/a> (ETH) is currently trading around $3,350 \u2014 around 2 percent lower than it was at the same time a week ago (see chart below).<\/p>\n\n\n\n

\"BTC
ETH\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em>
<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

The weekly gain for BTC buyers is minimal, as Saturday’s progress returns to square one the next day. On Sept. 19, Bitcoin (BTC) retested $47,000 as the weekly close appeared to be hinged on the CME futures gap. Following the erasure of profits, Bitcoin has come full circle As the week came to a conclusion, […]<\/p>\n","protected":false},"author":13,"featured_media":10199,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83,76],"tags":[326,152,148],"class_list":["post-10189","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","category-bitcoin-price","tag-binance","tag-bitcoin","tag-ether"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-161.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10189","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=10189"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/10189\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/10199"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=10189"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=10189"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=10189"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}