⚠️Cautious! 😭😭😭
🔥Bitcoin Price Decline Continues:😱😱😱
✍️Bitcoin price started another decline from the $66,850 resistance zone. BTC is again moving lower and might even decline below the $65,500 support zone.
🕯️Bitcoin failed to climb above $67,000 and started another decline.
The price is trading below $66,800 and the 100 hourly Simple moving average.
There was a break below a connecting bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down and even trade below the $65,500 support zone.
✍️Bitcoin Price Resumes Decline
Bitcoin price struggled to climb above the $67,000 resistance zone. BTC remained in a bearish zone and started a fresh decline from the $66,868 high. There was a move below the $66,500 level.
✍️Besides, there was a break below a connecting bullish trend line with support at $66,500 on the hourly chart of the BTC/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $65,075 swing low to the $66,868 high.
✍️Bitcoin is now trading below $66,800 and the 100 hourly Simple moving average. It seems like the price might soon test the 50% Fib retracement level of the upward move from the $65,075 swing low to the $66,868 high.
✍️On the upside, the price is facing resistance near the $66,500 level and the 100 hourly Simple moving average. The first major resistance could be $66,850. The next key resistance could be $67,000. A clear move above the $67,000 resistance might start a decent increase and send the price higher.
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