There are several key Bitcoin price levels to watch as traders bet on a price below $14,000.

Key points:

• Market sentiment remains on edge as rumors continue to swirl around the crypto business group Digital Currency Group.
• Traders and analysts are poised to offer short-term BTC price targets, mostly to the downside.
• Ambesa emphasized $14,600 as the “best prepared” area for increasing BTC risk.
• The London Crypto estimates the low for this bear to be the $10k-$12k range, followed by a high of $175k in 2024-2025.
• Sheldon the Sniper agreed, giving a rough target of $12,000 to $13,000.
• Rekt Capital sees key levels at $13,910 (support) and $23,300 (resistance).

Bitcoin opened on Wall Street on Nov. 21 holding a weekly close not seen since late 2020.

Data from TradingView shows BTC/USD hovering above $16,000 after falling below that level overnight.

Market sentiment remains on edge as rumors continue to swirl around the crypto business group Digital Currency Group (DCG).

Concerns centered on the $10.5 billion investment vehicle, the Grayscale Bitcoin Trust (GBTC), with unfounded rumors about potential liquidity issues popping up on social media.

GBTC custodian - Coinbase reportedly confirmed that its holdings of bitcoin — more than 635,000 BTC — were safe and existed as of the day.

GBTC is just one of many potential victims of FTX’s ongoing debacle and related transactions. However, cryptocurrency prices remain very sensitive to this topic.

So, perhaps unsurprisingly, traders and analysts are poised to offer short-term BTC price targets, mostly to the downside.

Ambesa: $14,600, $15,300, $17,580

Popular Twitter commentator Anbessa argues that BTC/USD is next to retest lower levels, but also offers a level to re-enter should market strength resume.

He updated the Twitter discussion with an annotated chart, emphasizing $14,600 as the “best prepared” area for increasing BTC risk.

"Time has passed and plans have not changed. Re-entries are now slightly lower (downtrend line support)," he concluded in accompanying comments.

If bitcoin stops falling now, Anbessa said, the re-entry point would be just below $17,600 - where the previous macro low was in June. BTC/USD needs to reverse this strategy to work.

Crypto London: $12,000, $175,000

Like several other firms, The London Crypto, a partner of exchange ByBit, sees an eventual bear market bottom for bitcoin at around $12,000.

He arrived at his calculations using historical retracements from all-time highs.

However, for every cycle low, there is a high, and the optimist London crypto hasn't been shy about predicting good times around Bitcoin's next block subsidy halving.

“BTC corrected 77% in this bear market, compared to 84% in 2013 and 83% in 2017,” he noted:

“Studying our previous cycles high vs lows, we can estimate the low for this bear to be the $10k-$12k range, followed by a high of $175k in 2024-2025.”

Sheldon the Sniper: $12,000 to $13,000

That day, Sheldon the Sniper agreed, giving a rough target of $12,000 to $13,000.

Another tweet said that if the price of Bitcoin jumped above $18,000, it would trigger an "unload" of its BTC portfolio while forming multiple downside targets.

These came in the form of various support zones at $14,013, $12,846, $11,747, and $10,594.

"The landing point could be in front of the unloading area, but let's see," he added.

Rekt Capital: Key weekly levels

Analyst Rekt Capital has also marked important support and resistance areas with closing prices on the weekly chart.

He warned that BTC/USD ended the week at $16,250 and above $1,000 below key resistance at $17,322 for the last week.

Uploading the aggregated chart, other key levels were $13,910 support and $23,300 resistance.

“New BTC weekly close below key resistance,” he noted

“Price has performed a small rejection but no substantial downside follow-through as of yet.”