TA: Bitcoin Downtrend Intact, Why The Bears Might Aim $32K

TA: Bitcoin Downtrend Intact, Why The Bears Might Aim $32K


Bitcoin started a strong decline below the $37,500 support against the US Dollar. BTC even traded below $35,000 and might continue to move down towards $32,000.

Bitcoin started a strong decline below the $36,500 and $35,500 levels. The price is now trading below $35,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $34,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might accelerate further lower below the $33,500 support zone in the near term. Bitcoin Price Settles Below $35K

Bitcoin price struggled to stay above the $36,000 support zone and extended downsides. BTC traded below the key $35,500 and $35,000 support levels to move further into a

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