TA: Bitcoin Price Turns Red, Why BTC Could Extend Losses

TA: Bitcoin Price Turns Red, Why BTC Could Extend Losses


Bitcoin started a fresh decline below the $22,000 support against the US Dollar. BTC is declining and might extend losses below the $20,500 support zone.

Bitcoin started a fresh decline and traded below the $22,000 level. The price is now trading below the $22,000 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $21,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline further if there is a clear move below the $20,800 level. Bitcoin Price Gains Bearish Momentum

Bitcoin price started a fresh decline after it failed to clear the $24,000 resistance zone. There was a steady decline below the $23,500 and $23,000 levels.

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