{"id":559766,"date":"2023-03-05T16:55:21","date_gmt":"2023-03-05T13:55:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-faces-last-stand-as-weekly-close-threatens-22k-retest\/"},"modified":"2023-03-05T16:55:21","modified_gmt":"2023-03-05T13:55:21","slug":"bitcoin-price-faces-last-stand-as-weekly-close-threatens-22k-retest","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-faces-last-stand-as-weekly-close-threatens-22k-retest\/","title":{"rendered":"# Bitcoin price faces &#8216;last stand&#8217; as weekly close threatens $22K retest"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 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-6a41769f43e15\" 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-6a41769f43e15\" 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-price-faces-last-stand-as-weekly-close-threatens-22k-retest\/#%E2%80%9D_Bitcoin_price_faces_%E2%80%98last_stand_as_weekly_close_threatens_22K_retest_%E2%80%9C\" >&#8221; Bitcoin price faces &#8216;last stand&#8217; as weekly close threatens $22K retest &#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-price-faces-last-stand-as-weekly-close-threatens-22k-retest\/#Analyst_warns_over_fate_of_20000\" >Analyst warns over fate of $20,000<\/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-price-faces-last-stand-as-weekly-close-threatens-22k-retest\/#%E2%80%9COverwhelmingly_bearish_sentiment%E2%80%9D\" >&#8220;Overwhelmingly bearish sentiment&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_faces_%E2%80%98last_stand_as_weekly_close_threatens_22K_retest_%E2%80%9C\"><\/span>&#8221; Bitcoin price faces &#8216;last stand&#8217; as weekly close threatens $22K retest &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bitcoin (BTC) stayed near key support on March 5 as the weekly candle close brought fresh fears of a breakdown.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/e825267a-1fad-425e-991f-1bb04ee8bb8c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Analyst_warns_over_fate_of_20000\"><\/span>Analyst warns over fate of $20,000<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0followed BTC\/USD as it continued to move in a tight range over the weekend.<\/p>\n<p>The pair had remained practically stationary since its abrupt fall on March 3 triggered by a margin call amid uncertainty over Silvergate bank.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The streak has been broken <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/TY5w7NAKWw\">pic.twitter.com\/TY5w7NAKWw<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1632110211342139393?ref_src=twsrc%5Etfw\">March 4, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While avoiding further losses, analysis warned that Bitcoin could still easily fall much lower if a nearby support level failed to hold.<\/p>\n<p>Monitoring resource Material Indicators explained that BTC price action had &#8220;lost key technical support&#8221; and that $22,000 \u2014 the sight of a recent resistance\/support (R\/S) flip \u2014 was now all that remained for bulls to hold onto.<\/p>\n<p>&#8220;The local R\/S Flip zone is the last stand between a retest at the trend line. Meanwhile, Trend Precognition is indicating a down trend,&#8221; it <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1632065078525566976\">wrote<\/a> in part of a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> update on the day. <\/p>\n<blockquote><p>&#8220;Will see if that changes after the W close.&#8221;<\/p><\/blockquote>\n<p>Accompanying charts showed both the trend line at stake and the BTC\/USD order book on Binance with bid liquidity parked at $22,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/fa23ddee-433b-4ae5-a553-780d41dd1969.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD charts. Source: Material Indicators\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, warned that should $21,300 fail to hold as well, $20,000 may not help to stem the exodus.<\/p>\n<p>&#8220;Crucial area for #Bitcoin is to hold the $21.3K area. Losing that, and we&#8217;ll see another sweep towards $19.5Kish and altcoins dropping 15-25%,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1632016041042747392\">predicted<\/a> on March 4.<\/p>\n<p>Van de Poppe nonetheless maintained a more optimistic view overall, suggesting that $40,000 could still <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>ear &#8220;in a few months.&#8221;<\/p>\n<p>&#8220;Moral of the story: Dollar-Cost Average and have balls to buy when you don\u2019t feel confident,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1632289555024953344\">advised<\/a> in part of a subsequent post.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1632289555024953344\"><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"%E2%80%9COverwhelmingly_bearish_sentiment%E2%80%9D\"><\/span>&#8220;Overwhelmingly bearish sentiment&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With Silvergate&#8217;s potential bankruptcy still a hot topic, research firm Santiment queried why the market reaction had been so severe.<\/p>\n<p><strong><em>Related:\u00a0Bitcoin price would retest $25K without Silvergate saga \u2014 analysis<\/em><\/strong><\/p>\n<p>In a dedicated <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.santiment.net\/read\/massive-negative-sentiment-appears-7225?utm_source=twitter&amp;utm_medium=post&amp;utm_campaign=twitter_massive_negative_sentiment_appears_insight_b_030523\/&amp;fpr=twitter\">post<\/a> on the phenomenon, analysts revealed what they described as an &#8220;unusually high amount of negative commentary about the markets.&#8221;<\/p>\n<p>&#8220;It&#8217;s particularly interesting that #cryptocrash has been a key of-and-on trending hashtag on the platform, even though Bitcoin&#8217;s mild -5% pullback occurred more than three days ago,&#8221; it continued about Twitter user behavior.<\/p>\n<blockquote><p>&#8220;Typically, you can capitalize on this level of negativity on the markets, and this kind of overwhelmingly bearish sentiment can lead to a nice bounce to silence the critics.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/783db0ce-edf6-487f-b67a-32494d99cc20.png\"><figcaption style=\"text-align: center;\"><em>Twitter data chart with selected crypto terms. Source: Santiment<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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-price-faces-last-stand-as-weekly-close-threatens-22k-retest\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price faces &#8216;last stand&#8217; as weekly close threatens $22K retest &#8220; Bitcoin (BTC) stayed near key support on March 5 as the weekly candle close brought fresh fears of a breakdown. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView Analyst warns over fate of $20,000 Data from Cointelegraph Markets Pro and TradingView\u00a0followed BTC\/USD as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":559767,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/f94bd848-7f10-40f2-904b-f3c92d449cca.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-559766","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559766","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=559766"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559766\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/559767"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=559766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=559766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=559766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}