Bitcoin risks a return to $20,000, analysis warns with CPI and BTC price weakness leading the week's talking points.
“Weekly close below ~$26,000 likely confirms the Double Top breakdown,” Rekt CapitalFurther analysis noted that $26,000 had formed support for three weeks running, and that finally deciding its fate was thus significant on weekly timeframes.X followers that there was still room for optimism. This, he argued, was in the form of the 200-week exponential moving average near $25,600.
BTC/USD often “fills” gaps within days or even hours of futures markets resuming, but over time, some have been left behind. A major gap on the radar currently lurks at $20,000. Under such circumstances, a potential BTC price range would form, with the $20,000 gap and previously-filled gap functioning as support and resistance, respectively.Others, however, were undecided about the probability of such a far-off gap being revisited.
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