Bitcoin price failed to clear the $30,000 resistance. BTC is declining and remains at risk of a move toward the $27,200 support zone.
Bitcoin is moving lower from the $29,750 resistance zone.
The price is trading below $28,800 and the 100 hourly Simple moving average.
There is a key bearish trend line forming with resistance near $28,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if there is a move below the $28,000 support.
Bitcoin Price Extends Losses
Bitcoin price struggled to clear the $30,000 resistance zone. BTC faced a strong rejection near $29,750 and started a fresh decline. There was a clear move below the $29,200 and $29,000 levels.
It traded close to the $28,000 support. A low is formed near $28,100 and the price is now consolidating losses. It is now trading below $28,800 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $28,650 on the hourly chart of the
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