- Bitcoin's price hovers above $26,000 as it closes the week on August 20 amidst concerns about its decline.
- The market has experienced an 11% drop in seven days, and analysts remain cautious about the future of BTC.
- Keith Alan of Material #Indicators predicts that $25,000 #support will eventually break down, leading to a retest of the 2017 #Bull #Market Top around $20,000.
- Alan suggests a potential rebound to the 100-week SMA at $31,368, but if $25,000 support fails, lower levels like $24,749 and $19,567 could be targeted.
- Other experts also mention that if $25,000 doesn't hold, the price could target $24,000 - $23,000 or even $20,000.
- Some support levels below $25,000 are identified by #analytics platform Whalemap at $23,200 and $21,000, with additional points of interest at $19,200 and $16,600.
- Previous whale support at $28,250 and $26,950 failed to prevent the market from declining.
