Bitcoin (BTC) stayed near key support on March 5 as the weekly candle close brought fresh fears of a breakdown.
Monitoring resource Material Indicators explained that BTC price action had "lost key technical support" and that $22,000 — the sight of a recent resistance/support (R/S) flip — was now all that remained for bulls to hold onto.
"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," it wrote in part of a Twitter update on the day.
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