TA: Bitcoin Struggles Below $32K, Why Downtrend Could Resume

TA: Bitcoin Struggles Below $32K, Why Downtrend Could Resume

Bitcoin attempted a recovery wave above $32,000 against the US Dollar. BTC is struggling and remains at a risk of more losses below $30,000.

Bitcoin started a short-term recovery wave after it tested the $30,000 zone. The price is now trading below $31,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $31,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might resume decline if it stays below the $32,400 resistance zone. Bitcoin Price Faces Hurdles

Bitcoin price extended downsides below the $32,000 level. BTC even tested the $30,000 support zone and traded as low as $29,755.

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Recently, there was an upside correction above the $31,000 level. The

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