Bitcoin price started a downside correction from the $123,200 zone. BTC is now consolidating below $120,000 and might attempt a fresh increase.
Bitcoin started a fresh decline from the new all-time high near $123,200. The price is trading below $119,500 and the 100 hourly Simple moving average. There is a rising channel forming with support at $118,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $120,000 resistance zone. Bitcoin Price Hits Support
Bitcoin price started a downside correction from the new all-time high at $123,200. BTC dipped below the $122,000 and $120,000 support levels to enter a short-term bearish zone.
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The price traded below the 23.6% Fib retracement level
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