{"id":11221,"date":"2023-03-31T10:33:49","date_gmt":"2023-03-31T10:33:49","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=11221"},"modified":"2023-03-31T10:33:50","modified_gmt":"2023-03-31T10:33:50","slug":"btc-price-to-22k-watch-these-key-levels-into-bitcoin-monthly-close","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11221","title":{"rendered":"BTC price to $22K? Watch these key levels into Bitcoin monthly close"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>Bitcoin (BTC) is back below $28,000 as the countdown to the monthly close keeps everyone on their toes.<\/p>\n<p><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/p>\n<h2>200-week trend line among popular BTC price targets<\/h2>\n<p>Data from Cointelegraph Markets Pro and TradingView shows BTC\/USD dropping to two-day lows of $27,533 on March 31.<\/p>\n<p>A modest bounce means that the pair is trading at around $27,800 at the time of writing as traders flag the most important support and resistance levels going forward.<\/p>\n<p>For Crypto Tony, the current part of Bitcoin\u2019s trading range is key, as $27,700 forms the equilibrium (EQ) level and key support that bulls should preserve.<\/p>\n<p>\u201c$27,700 is the level (EQ) you need to watch this weekend if you are currently in a fresh long position. Those who are in with me from awhile back, we are not worried unless we lose that range low,\u201d he wrote in part of his latest Twitter analysis on the day. <\/p>\n<p>An accompanying chart showed the top, bottom and EQ for BTC\/USDT on Binance. <\/p>\n<p><em>BTC\/USD annotated chart. Source: Crypto Tony\/Twitter<\/em><\/p>\n<p>Continuing a popular narrative, Filbfilb, co-founder of trading suite DecenTrader, said that Bitcoin\u2019s 200-week moving average (WMA) near $25,500 would be \u201cfront run\u201d next.<\/p>\n<p>This would translate to two-week lows, with bulls wanting to avoid a support or resistance flip of the 200WMA \u2014 something which occurred in mid-2022 and preceded months of downside.<\/p>\n<p lang=\"en\" dir=\"ltr\">I believe the 200-week ma will be front run for the following reasons: <\/p>\n<p>&#8211; Already seen evidence of it<br \/>&#8211; People dont want to talk about exchange risk <br \/>&#8211; People dont want to talk about stablecoin risk <br \/>&#8211; Market is positioned short and desperate to exit<\/p>\n<p>\u2014 filbfilb (@filbfilb) March 30, 2023<\/p>\n<p>Considering high-timeframe (HTF) resistance now directly above the spot price, meanwhile, fellow trader Credible Crypto cautioned followers on staying bullish at nine-month highs.<\/p>\n<p><strong><em>Related: US enforcement agencies are turning up the heat on crypto-related crime<\/em><\/strong><\/p>\n<p>\u201cYou\u2019re not allowed to get bullish at the highs into major HTF resistance. Now that we are testing our first actual level of support to the downside you ARE allowed to get a LITTLE bullish. If we are going to go for the highs again, we should hold here,\u201d he\u00a0said\u00a0in a Twitter analysis.<\/p>\n<p>Downside targets come in the form of $22,000\u2013$23,000, with $25,000\u2013$26,000 as a less drastic target should market strength hold.<\/p>\n<p>\u201cThe RED region above us is HTF resistance and weekly supply which, thus far, remains untested. It would be logical to test this region before a larger correction to 22-23k BTC occurs,\u201d Credible Crypto continued on an accompanying chart. <\/p>\n<p>\u201cThis doesn\u2019t mean it HAS to happen, but if we do rally from here back to the highs don\u2019t flip mega bullish into resistance again.\u201d<em>BTC\/USD annotated chart. Source: Credible Crypto\/Twitter<\/em><\/p>\n<h2>Bitcoin market structure has \u201cshifted\u201d<\/h2>\n<p>Concentrating on the monthly close, analytics account Tedtalksmacro offered a more optimistic angle.<\/p>\n<p><strong><em>Related:\u00a0Will BTC ditch the bear market? 5 things to know in Bitcoin this week<\/em><\/strong><\/p>\n<p>On longer timeframes, he argued, Bitcoin has \u201ctruly shifted\u201d its structure to produce a clean break with the bear market in place since its latest all-time highs in November 2021.<\/p>\n<p>\u201cBitcoin is doing its best to advertise to those who\u2019d want to enter + hold for the next cycle higher. On the weekly chart, it\u2019s printed its first higher highs (HH) since November \u201921 and first higher low (HL) since January \u201922,\u201d he summarized.<\/p>\n<p>\u201cTraders now have clear invalidation and can cut longs on acceptance back into the range below 24k. Market structure has well and truly shifted.\u201d<em>BTC\/USD annotated chart. Source: Ted\/Twitter<\/em><\/p>\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><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/btc-price-to-22k-watch-these-key-levels-into-bitcoin-monthly-close\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin (BTC) is back below $28,000 as the countdown to the monthly close keeps everyone on their toes. BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView 200-week trend line among popular BTC price targets Data from Cointelegraph Markets Pro and TradingView shows BTC\/USD dropping to two-day lows of $27,533 on March 31. A modest bounce means [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-11221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11221"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11221\/revisions"}],"predecessor-version":[{"id":11223,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11221\/revisions\/11223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11222"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}