Bitcoin's price hovers around $26,100, sparking debates among market experts about its future.
Some anticipate a return to the previous all-time high of $20,000, while others fear even worse scenarios.
Recent data shows an 11% drop in BTC/USD over the past week, leaving market observers cautious.
Keith Alan, co-founder of Material Indicators, believes $25,000 support may break, leading to a retest of the 2017 Bull Market Top near $20,000.
Alan suggests that this could create a foundation for another rally with a target range of $28,000 to $29,000.
Skew, a popular trader, also sees the potential for BTC to reach $20,000 if $25,000 support fails.
However, intraday price action might bring a bounce around the weekly close, possibly targeting $28,500.
Whalemap, an analytics platform, identifies significant buying volume at $23,200 and $21,000, offering potential support.
In the worst-case scenario, Whalemap points out key levels at $19,200 and $16,600 as points of interest.
This article emphasizes the importance of conducting thorough research and exercising caution in the ever-changing cryptocurrency market, without providing investment advice.