{"id":449516,"date":"2022-05-19T16:09:45","date_gmt":"2022-05-19T13:09:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\/"},"modified":"2022-05-19T16:09:45","modified_gmt":"2022-05-19T13:09:45","slug":"bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\/","title":{"rendered":"# Bitcoin must defend these price levels to avoid &#8216;much deeper&#8217; fall: Analysis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a279d22f1076\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a279d22f1076\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\/#%E2%80%9D_Bitcoin_must_defend_these_price_levels_to_avoid_%E2%80%98much_deeper_fall_Analysis_%E2%80%9C\" >&#8221; Bitcoin must defend these price levels to avoid &#8216;much deeper&#8217; fall: Analysis &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\/#Whales_dictate_%E2%80%9Cdo_or_die%E2%80%9D_BTC_price_support\" >Whales dictate &#8220;do or die&#8221; BTC price support<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\/#Report_predicts_%E2%80%9Crocky_road%E2%80%9D_ahead\" >Report predicts &#8220;rocky road&#8221; ahead<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_must_defend_these_price_levels_to_avoid_%E2%80%98much_deeper_fall_Analysis_%E2%80%9C\"><\/span>&#8221; Bitcoin must defend these price levels to avoid &#8216;much deeper&#8217; fall: Analysis &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) may be attempting to flip $30,000 to support on May 19, but for one group of analysts, attention is focused firmly on a fresh drop.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1527262043891347457\">tweet<\/a> on the day, on-chain monitoring resource Whalemap defined the support levels Bitcoin bulls must defend in order to avoid fresh significant losses.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Whales_dictate_%E2%80%9Cdo_or_die%E2%80%9D_BTC_price_support\"><\/span>Whales dictate &#8220;do or die&#8221; BTC price support<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin&#8217;s current &#8220;no man&#8217;s land&#8221; price behavior has commentators split on whether the next decisive move will be up or down.<\/p>\n<p>While some are calling for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1527035068174180354\">$32,000 or more<\/a> next, many argue that last week&#8217;s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> to $23,800 was not the lowest that BTC\/USD will manage going forward.<\/p>\n<p>For Whalemap, which analyzes the buying and selling of Bitcoin&#8217;s biggest investors, the zone to watch is around $24,000 to $26,000.<\/p>\n<p>This is where larger groups of whales deployed funds, and their presence thus provides considerable on-chain support.<\/p>\n<p>Should sell pressure unravel the zone, the results could be a &#8220;much deeper&#8221; retracement, Whalemap analysts warn, describing the whale support levels as &#8220;do or die.&#8221;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Lets keep it simple<\/p>\n<p>Do or die supports for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> right now are:<\/p>\n<p>$26,439<br \/>$25,666<br \/>$24,718<br \/>$24,673<\/p>\n<p>This or we going much deeper <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/h6PEHL2HDz\">pic.twitter.com\/h6PEHL2HDz<\/a><\/p>\n<p>\u2014 whalemap (@whale_map) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1527262043891347457?ref_src=twsrc%5Etfw\">May 19, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/whale_map\/status\/1526899904395808769\">separate post<\/a>, however, Whalemap noted that with realized losses now dwarfing gains, Bitcoin could yet be in for a price turnaround.<\/p>\n<p>&#8220;2 times more losses than profits were transacted on-chain in the last couple of days,&#8221;\u00a0it commented on May 18.\u00a0<\/p>\n<blockquote><p>&#8220;Last times this h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened $BTC had a rally up. Lets see what happens this time.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/812ec861-b0d8-482f-83f8-c694bbb281b0.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD moving profit\/ loss (MPL) annotated chart. Source: Whalemap\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>Previously, Cointelegraph reported on mounting overall Bitcoin realized losses, these reaching their second-highest daily levels ever last week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Report_predicts_%E2%80%9Crocky_road%E2%80%9D_ahead\"><\/span>Report predicts &#8220;rocky road&#8221; ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>At the time of writing, BTC\/USD traded at around $29,400 amid an attempt to crack 24-hour highs.<\/p>\n<p><strong><em>Related:\u00a0Price analysis 5\/18: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB<\/em><\/strong><\/p>\n<p>The Wall Street open was primed to unsettle the market once again, however, following the May 18 session which saw considerable sell-side pressure across equities which then spilled over into crypto.<\/p>\n<p>Given that last week&#8217;s ten-month lows coincided with Bitcoin&#8217;s overall on-chain <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.lookintobitcoin.com\/charts\/realized-price\/\">realized price<\/a>, meanwhile, interest remains strong as to whether this fact in and of itself will be enough to prevent the market from a new level of capitulation.<\/p>\n<p>&#8220;It remains to be seen if a full return to the Realized Price is required to put this bear market to rest, and if so whether it is for months, weeks, days or just a short a moment,&#8221; on-chain analytics firm Glassnode concluded in the latest edition of its weekly <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letter, &#8220;<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/the-week-onchain-week-20-2022\/\">The Week On-Chain<\/a>,&#8221; released on May 16. <\/p>\n<blockquote><p>&#8220;Perhaps those days are behind us if the accumulation we observed is indicative of the support the bulls are willing to put up in the $20ks range. Note also, there remains a plethora of macro, inflationary and monetary policy forces acting as headwinds. The road ahead will likely continue to be a rocky one.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-05\/19fd6a75-9142-4dd0-a91e-fac62faee220.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin realized price chart. Source: LookIntoBitcoin<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-must-defend-these-price-levels-to-avoid-much-deeper-fall-analysis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin must defend these price levels to avoid &#8216;much deeper&#8217; fall: Analysis &#8220; Bitcoin (BTC) may be attempting to flip $30,000 to support on May 19, but for one group of analysts, attention is focused firmly on a fresh drop. In a tweet on the day, on-chain monitoring resource Whalemap defined the support levels&#8230;<\/p>\n","protected":false},"author":1,"featured_media":449517,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvZjJhNzgyZjAtNDYxMS00MTMxLWIzNWUtNTk0ZmM0NzZkMWE4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785,68637],"class_list":["post-449516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets","tag-predictions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=449516"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/449516\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/449517"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=449516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=449516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=449516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}