Bitcoin price is struggling below $27,500. BTC is now at risk of a downside break unless there is a close above the $27,500 resistance.
Bitcoin started another decline and traded below the $26,800 level. The price is trading below $27,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh rally if it clears the $27,320 and $27,500 resistance levels. Bitcoin Price Faces Resistance
Bitcoin price started a fresh decline below the $27,200 level. BTC even traded below the $26,550 support zone to set a new weekly low.
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A low is formed near $26,345 and the
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