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Bitcoin price is moving lower from the $73,000 resistance. BTC must stay above the $67,000 support to start a fresh increase in the near term.
Bitcoin price is correcting gains and moving lower from the $73,000 zone.
The price is trading below $71,000 and the 100 hourly Simple moving average.
There was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could revisit the $67,000 support zone in the near term.
Bitcoin Price Corrects Lower
Bitcoin price made another attempt to gain strength above the $72,500 level. However, there was no clear move above the $72,500 level and the price reacted to the downside.
There was a drop below the $72,000 and $71,500 levels. Besides, there was a break below a key bullish trend line with support at $72,820 on the hourly chart of the BTC/USD pair. The pair even declined below the $70,000 level. A low is formed near $68,403 and the price is now showing a few bearish signs.
Bitcoin is now trading below $71,000 and the 100 hourly Simple moving average. Immediate resistance is near the $70,000 level or the 50% Fib retracement level of the downward move from the $72,043 swing high to the $68,403 low.
