TA: Bitcoin Resumes Slide, Why BTC Could Extend Losses In Short-Term

TA: Bitcoin Resumes Slide, Why BTC Could Extend Losses In Short-Term


Bitcoin price failed to stay above the $35,000 support against the US Dollar. BTC is declining and it is likely to extend losses below $33,000 in the short-term.

Bitcoin started a fresh decline after it broke the $36,500 and $36,000 support levels. The price is currently well below $36,000 and the 100 hourly simple moving average. There was a break below a major ascending channel with support near $35,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue lower below the $33,000 and $32,000 support levels. Bitcoin Price is Down Over 5%

Bitcoin failed to stay above the $36,500 support zone and extended its decline. BTC broke the $35,500 support level and settled below the 100 hourly simple moving average.

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There was a clear break below a major ascending channel with support near $35,600 on the hourly chart of the BTC/USD pair. The pair gained pace below the

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