Bitcoin price wicks below $20K as whales send 50K BTC to exchanges

Bitcoin price wicks below $20K as whales send 50K BTC to exchanges


Bitcoin (BTC) saw a dramatic change of mood into June 22 as multi-day highs gave way to a fresh dive under $20,000.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC could see accumulation below key trendline

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly halting its latest gains to hit lows of $19,947 on Bitstamp.

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The largest cryptocurrency had passed $21,700 the day before, its best performance since June 16, but momentum waned during Wall Street trading.

For popular trader and analyst Rekt Capital, there was danger in BTC/USD being unable to reclaim its 200-week moving average (MA).

A classic support line in previous bear markets, Bitcoin had formerly retained the 200-week MA as support with wicks below it characterizing macro price bottoms.

“If BTC can’t reclaim the 200-week

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