TA: Bitcoin Remains In Downtrend, Risk of Drop Below $20K

TA: Bitcoin Remains In Downtrend, Risk of Drop Below $20K


Bitcoin failed to recover above $23,000 against the US Dollar. BTC started a fresh decline and remains at a risk of a move below the $20,000 support.

Bitcoin failed to climb above $23,000 and started a fresh decline. The price is now trading below the $22,000 level and the 100 hourly simple moving average. There is a new connecting bearish trend line forming with resistance near $20,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a move below the $20,000 support zone in the near term. Bitcoin Price Revisits $20K

Bitcoin price attempted a fresh increase above the $22,000 level. However, the bears were active near the $22,800 and $23,000 levels. A

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