Bitcoin Price Prediction: Can 200-week moving average bring support BTC desperately needs?

Next major Monthly level below is the ~$20000 level (orange)

However in between these two major Monthly levels is the 200-week MA which has a good historical track record of marking out bottoms$BTC #Crypto #Bitcoin https://t.co/m76RppBF0T pic.twitter.com/c5dEAt7Ru1
Bitcoin price continues to bleed as crypto market capitalization declines. Analysts believe Bitcoin and altcoins could witness further pullback in the short term. 
Justin Bennett, a leading crypto market analyst, told over 100,000 Twitter followers that the ecosystem could witness significant pullback, wherein Bitcoin and altcoins lose a massive chunk of their value. 
Bennett believes the Bitcoin price is in the midst of a breakdown from a bearish continuation pattern, and $1 trillion is a psychological level for the crypto community. The breakdown occurred today, where over 5% of the crypto market’s capitalization was wiped out, and nearly $950 billion was drained out of the ecosystem. 
Bennett argues that $1 trillion is the area that offers a crucial support level for the entire crypto market. He was quoted as saying:
[The] $1 trillion [level] was also the most heavily traded level during the early 2021 consolidation.

Crypto market capitalization in USD
Bennett argues that altcoins will take the brunt of the correction. 
Bottom line: another 15% lower from the entire crypto market seems likely before we can start talking about the potential for relief. Remember that BTC will be the closest to that -15% mark. Alts, especially lower caps, will probably outpace it by 1.5-2x.
Bennett has predicted a 15% correction in Bitcoin price, where the asset hits a fresh yearly low of $23,500. Altcoins could lose 22.5% to 30% of their value. 
@BigCheds, a pseudonymous crypto analyst, evaluated the Bitcoin price chart and identified an inverted hammer. The analyst concluded that the pattern is bearish for Bitcoin price and expects a decline in BTC. 

BTC-USD chart 
FXStreet analysts believe Bitcoin price could decline to the $12,000 level; for more information, watch this video:
 

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Shiba Inu price shows a strong adherence to the immediate support level despite the recent crash. However, investors need to be careful as the current position of SHIB could push it either way.
ApeCoin price has been on a massive downtrend as most altcoins have in the last month. However, APE seems to be coiling up to trigger a massive and explosive recovery rally. 
Bitcoin price has not only swept key swing lows, as noted in last week’s articles, but it has also reached its first recovery level target. While the recovery rally was as quick as it was a surprise, investors can hope for a minor retracement to get on the next leg-up.
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