Bitcoin Price Backs Off Resistance — Breakdown Or Brief Pause?

Bitcoin price started a recovery wave above $89,500 but failed above $90,000. BTC is declining and might dip further if it breaks $88,000.

Bitcoin failed to remain above $90,000 and started another decline. The price is trading above $88,200 and the 100 hourly simple moving average. There is a rising channel forming with support at $88,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip further if it trades below the $88,000 and $87,500 levels. Bitcoin Price Faces Rejection

Bitcoin price remained stable above the $88,000 support. BTC formed a base and recently started a recovery wave above the $88,500 level.

The price climbed above the $89,000 and $89,500 levels. There was a move above the