{"id":33252,"date":"2020-12-11T18:48:52","date_gmt":"2020-12-11T16:48:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=33252"},"modified":"2025-08-28T12:55:31","modified_gmt":"2025-08-28T09:55:31","slug":"arcane-research-bitcoin-to-hover-between-16000-and-18000-ahead-of-breakout-above-20000","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/arcane-research-bitcoin-to-hover-between-16000-and-18000-ahead-of-breakout-above-20000\/","title":{"rendered":"Arcane Research: Bitcoin to hover between $16,000 and $18,000 ahead of breakout above $20,000"},"content":{"rendered":"<p>After a solid rise in October\u2013November, Bitcoin&#8217;s price could hold in December in the $18 000\u201320 000 range with a likely test of $16 000. This would be a \u201chealthy pullback\u201d before further gains, according to Arcane Research.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\ud83d\udcc8Highest <a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoin<\/a> volume in 2020\ud83d\udcc8<\/p>\n<p>We have seen a massive increase in the bitcoin volume over the past month, surpassing the highs from March and May.<\/p>\n<p>Read more in our weekly market report: <a href=\"https:\/\/t.co\/piGbUmtUZn\">https:\/\/t.co\/piGbUmtUZn<\/a> <a href=\"https:\/\/t.co\/B0yTmNgASP\">pic.twitter.com\/B0yTmNgASP<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\"https:\/\/twitter.com\/ArcaneResearch\/status\/1326184391547228161?ref_src=twsrc%5Etfw\">November 10, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A continuation of the rally, should the above-mentioned scenario be invalidated, would be possible if the weekly candle closes above the $19 400 level, according to analysts.<\/p>\n<div id=\"attachment_119323\" style=\"width: 1052px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119323\" class=\"size-full wp-image-119323\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_40-PM.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"1042\" height=\"570\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_40-PM.png 1042w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_40-PM-300x164.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_40-PM-1024x560.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_40-PM-768x420.png 768w\" sizes=\"auto, (max-width: 1042px) 100vw, 1042px\" \/><\/p>\n<p id=\"caption-attachment-119323\" class=\"wp-caption-text\">Data: Arcane Research.<\/p>\n<\/div>\n<p>The higher probability of a consolidation move is underpinned by the Fear &#038; Greed index hovering near its all-time high of 95 for the past month. Previously, this had signaled profit-taking on long positions.<\/p>\n<div id=\"attachment_119324\" style=\"width: 694px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119324\" class=\"size-full wp-image-119324\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_41-PM.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"684\" height=\"455\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_41-PM.png 684w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_41-PM-300x200.png 300w\" sizes=\"auto, (max-width: 684px) 100vw, 684px\" \/><\/p>\n<p id=\"caption-attachment-119324\" class=\"wp-caption-text\">Data: Arcane Research.<\/p>\n<\/div>\n<p>Another such indicator is record-high trading volumes on spot exchanges as Bitcoin hits its all-time high, and their subsequent pullback.<\/p>\n<div id=\"attachment_119325\" style=\"width: 1072px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119325\" class=\"size-full wp-image-119325\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_42-PM.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"1062\" height=\"446\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_42-PM.png 1062w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_42-PM-300x126.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_42-PM-1024x430.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_42-PM-768x323.png 768w\" sizes=\"auto, (max-width: 1062px) 100vw, 1062px\" \/><\/p>\n<p id=\"caption-attachment-119325\" class=\"wp-caption-text\">Data: Arcane Research, skew.<\/p>\n<\/div>\n<p>Long-term prospects for the first cryptocurrency remain favorable. The aggregate balance of bitcoins on exchange wallets resumed its decline, breaking below 2.4 million coins. The metric fell by 575,000 BTC, or 19.5% from its peak.<\/p>\n<p>In November, analysts <a href=\"https:\/\/forklog.com\/en\/news\/arcane-research-bitcoin-breaches-16000-as-trading-volumes-hit-record-highs\">noted<\/a> that the ratio of bitcoins on exchange balances to the circulating supply reached its lowest level since February 2018.<\/p>\n<div id=\"attachment_119326\" style=\"width: 732px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119326\" class=\"size-full wp-image-119326\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_43-PM.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"722\" height=\"482\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_43-PM.png 722w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_43-PM-300x200.png 300w\" sizes=\"auto, (max-width: 722px) 100vw, 722px\" \/><\/p>\n<p id=\"caption-attachment-119326\" class=\"wp-caption-text\">Data: Arcane Research, Glassnode.<\/p>\n<\/div>\n<p>Analysts note that futures premia have halved after gains in the previous weeks. Arcane Research considers this a sign of less active bullish positioning, which reduces the risk of mass liquidations.<\/p>\n<div id=\"attachment_119327\" style=\"width: 742px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119327\" class=\"size-full wp-image-119327\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"732\" height=\"504\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM.png 732w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM-300x207.png 300w\" sizes=\"auto, (max-width: 732px) 100vw, 732px\" \/><\/p>\n<p id=\"caption-attachment-119327\" class=\"wp-caption-text\">Data: Arcane Research.<\/p>\n<\/div>\n<p>Another such signal was the return of the funding rate to neutral levels. At its peak on 24 November, the indicator jumped to 0.1% per hour, indicating enthusiasm among traders using borrowed funds.<\/p>\n<div id=\"attachment_119328\" style=\"width: 718px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-119328\" class=\"wp-image-119328 size-full\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM-1.png\" alt=\"Arcane Research: \u043f\u0435\u0440\u0435\u0434 \u043f\u0440\u043e\u0431\u043e\u0435\u043c $20 000 \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u043f\u043e\u0431\u0443\u0434\u0435\u0442 \u0432 \u0434\u0438\u0430\u043f\u0430\u0437\u043e\u043d\u0435 $16 000-$18 000\" width=\"708\" height=\"511\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM-1.png 708w, https:\/\/forklog.com\/wp-content\/uploads\/Clipboard-December-11-2020-6_44-PM-1-300x217.png 300w\" sizes=\"auto, (max-width: 708px) 100vw, 708px\" \/><\/p>\n<p id=\"caption-attachment-119328\" class=\"wp-caption-text\">Data: Arcane Research.<\/p>\n<\/div>\n<p>Earlier, CryptoQuant&#8217;s Ki Young Ju <a href=\"https:\/\/forklog.com\/en\/news\/opinion-institutions-absorb-bitcoin-whale-selling-as-price-edges-toward-20000\">predicted<\/a> that the return of Bitcoin whales to selling would push the $20,000 breakout to year-end.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forkloglive\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog FEED<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After a steady rise in October\u2013November, Bitcoin&#8217;s price could stay in December in the $18 000\u201320 000 range with a probable test of $16 000. This would be a \u201chealthy pullback\u201d before further gains, according to Arcane Research.<\/p>\n","protected":false},"author":1,"featured_media":33253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1874,1384,1145,1253],"class_list":["post-33252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-arcane-research","tag-fear-index","tag-market-analysis","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=33252"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33252\/revisions"}],"predecessor-version":[{"id":33254,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/33252\/revisions\/33254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/33253"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=33252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=33252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=33252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}