Bitcoin (BTC) stayed near key support on March 5 as the weekly candle close brought fresh fears of a breakdown.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Analyst warns over fate of $20,000

Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued to move in a tight range over the weekend.

The pair had remained practically stationary since its abrupt fall on March 3, triggered by a margin call amid uncertainty over  Silvergate Bank.

While avoiding further losses, analysis warned that Bitcoin could still easily fall much lower if a nearby support level failed to hold.

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.