Bitcoin price extended its decline and tested the key $40,750 support against the US Dollar. BTC could start a fresh increase as long as it is above $40,750.
Bitcoin extended its decline below the $42,000 and $41,200 support levels. The price is now trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $42,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase as long as it is above the $40,750 support zone. Bitcoin Price Tests Key Support
Bitcoin price remained in a bearish zone below the $42,500 level. BTC extended its decline below $42,000 and settled below the 100 hourly simple moving average.
There was a break below the $41,200 level, but the bulls protected the $40,750 support zone. A low is formed near $40,772 and the price is now rising. It surpassed the $41,200