{"id":490043,"date":"2022-05-09T14:26:52","date_gmt":"2022-05-09T14:26:52","guid":{"rendered":"https:\/\/wncen.com\/?p=490043"},"modified":"2024-06-11T11:19:42","modified_gmt":"2024-06-11T11:19:42","slug":"bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold\/","title":{"rendered":"Bitcoin Price Plummets To Lowest Point In 2022, Will $33,000 Hold?"},"content":{"rendered":"

Bitcoin price<\/a> had a treacherous weekend, capping off what has been nearly a 20% loss since the Fed meeting last week. The selloff has now taken the top cryptocurrency by market cap to the lowest point all year, setting a significant lower low for the first time in 2022.<\/p>\n

With BTCUSD at $33,000 per coin, will higher timeframe monthly support hold?<\/p>\n

Bitcoin Price Sets 2022 Lower Low: Where Is The Bottom?<\/h2>\n

Bitcoin price is down 32% from April 2022 highs, and has shed 50% from its 2021 peak. The last year plus has been a rollercoaster of a ride for crypto investors, setting not one, but two separate higher highs above $60,000.<\/p>\n

Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up<\/a><\/em><\/strong><\/p>\n

Since the November EFT-driven double-top, the continued downtrend has taken BTCUSD to a lower low in 2022 and puts the 2021 low set around $29,800 at risk.<\/p>\n

\"BTCUSD_2022-05-09_08-05-02\"<\/p>\n

Bitcoin has touched the lowest price yet in all of 2022. | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
How Deep Does This Go? Will Monthly Support At $33,000 Hold?<\/h2>\n
Lower lows and lower highs are a sign of a confirmed downtrend on timeframes between daily and weekly. Trends can differ on multiple timeframes, so not all hope is lost.<\/p>\n
Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet<\/a><\/em><\/strong><\/p>\n
Currently, the bull market structure on monthly timeframes remains intact. If BTCUSD can stay above the monthly resistance block, a double bottom could form and put in a higher low.<\/p>\n
\"BTCUSD_2022-05-09_09-50-32\"<\/p>\n
Monthly support is now being retested and must hold or a larger plunge still waits. | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Bitcoin has taken a beating over the course of the last year due to a tight correlation with tech stocks, soaring inflation, and rising Fed interest rates. The Crypto Fear & Greed Index has reached extreme fear and sentiment is the most bearish in recent memory.<\/p>\n
Although the outlook is bleak, some of the most well-known and successful investors ever advocate buying when others are in fear. Is now that time?<\/p>\n
Follow <\/i><\/b>@TonySpilotroBTC on Twitter<\/i><\/b><\/a> or join\u00a0<\/i><\/b>the TonyTradesBTC Telegram<\/i><\/b><\/a> for exclusive daily market insights and technical analysis education<\/i><\/b>. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice.<\/i><\/b><\/p>\n
Featured image from iStockPhoto, Charts from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price had a treacherous weekend, capping off what has been nearly a 20% loss since the Fed meeting last week. The selloff has now taken the top cryptocurrency by market cap to the lowest point all year, setting a significant lower low for the first time in 2022. With BTCUSD at $33,000 per coin, will higher timeframe monthly support hold? Bitcoin Price Sets 2022 Lower Low: Where Is The Bottom? Bitcoin price is down 32% from April 2022 highs, and has shed 50% from its 2021 peak. The last year plus has been a rollercoaster of a ride for crypto investors, setting not one, but two separate higher highs above $60,000. Related Reading | One Coin, Two Trades: Why Bitcoin Futures And Spot Signals Don’t Match Up Since the November EFT-driven double-top, the continued downtrend has taken BTCUSD to a lower low in 2022 and puts the 2021 low set around $29,800 at risk. Bitcoin has touched the lowest price yet in all of 2022. | Source: BTCUSD on TradingView.com How Deep Does This Go? Will Monthly Support At $33,000 Hold? Lower lows and lower highs are a sign of a confirmed downtrend on timeframes between daily and weekly. Trends can differ on multiple timeframes, so not all hope is lost. Related Reading | Time Vs Price: Why This Bitcoin Correction Was The Most Painful Yet Currently, the bull market structure on monthly timeframes remains intact. If BTCUSD can stay above the monthly resistance block, a double bottom could form and put in a higher low. Monthly support is now being retested and must hold or a larger plunge still waits. | Source: BTCUSD on TradingView.com Bitcoin has taken a beating over the course of the last year due to a tight correlation with tech stocks, soaring inflation, and rising Fed interest rates. The Crypto Fear & Greed Index has reached extreme fear and sentiment is the most bearish in recent memory. Although the outlook is bleak, some of the most well-known and successful investors ever advocate buying when others are in fear. Is now that time? Follow @TonySpilotroBTC on Twitter or join\u00a0the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is\u00a0educational and should not be\u00a0considered investment advice. Featured image from iStockPhoto, Charts from TradingView.com<\/p>\n","protected":false},"author":517,"featured_media":490076,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144],"class_list":["post-490043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Price Plummets To Lowest Point In 2022, Will $33,000 Hold?<\/title>\n<meta name=\"description\" content=\"Bitcoin price had a treacherous weekend, capping off what has been nearly a 20% loss since the Fed meeting last week. 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Plummets To Lowest Point In 2022, Will $33,000 Hold?","url":"http:\/\/wncen.com\/news\/bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/iStock-1183110161.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/iStock-1183110161.jpg?fit=2000%2C1500"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Tony \"The Bull\" Severino"}],"creator":["Tony \"The Bull\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd"],"dateCreated":"2022-05-09T14:26:52Z","datePublished":"2022-05-09T14:26:52Z","dateModified":"2024-06-11T11:19:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Plummets To Lowest Point In 2022, Will $33,000 Hold?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-plummets-to-lowest-point-in-2022-will-33000-hold\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/iStock-1183110161.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/iStock-1183110161.jpg?fit=2000%2C1500\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"The Bull\\\" Severino\"}],\"creator\":[\"Tony \\\"The Bull\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-05-09T14:26:52Z\",\"datePublished\":\"2022-05-09T14:26:52Z\",\"dateModified\":\"2024-06-11T11:19:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/05\/iStock-1183110161.jpg?fit=2000%2C1500","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=490043"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/490043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/490076"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=490043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=490043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=490043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}