Bitcoin price faces 'last stand' as weekly close threatens $22K retest
Bitcoin bulls have a lot to do preserve newly-won support, but failure to do so could still see a BTC price cascade below $20,000, research warns. 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 followed BTC/USD as it continued to move in a tight range over the weekend. The pair had remained practically stationary since its abrupt fall on March 3 triggered by a margin call amid uncertainty over Silvergate bank. The streak has been broken pic.twitter.com/TY5w7NAKWw — Daan Crypto Trades (@DaanCrypto) March 4, 2023 While avoiding further losses, Analysis warned that Bitcoin could still easily fall much lower if a nearby support level failed to hold. Monitoring resource Material Indicators explained that BTC price action had "lost key technical support" and that $22,00...