Bitcoin price started a fresh decline below $95,000. BTC is consolidating losses and remains at risk of more losses if it dips below $92,000.
Bitcoin started a sharp decline below $95,000 and $94,000.
The price is trading below $93,500 and the 100 hourly Simple moving average.
There was a break below a declining channel with support at $93,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might continue to move down if it stays below the $954000 zone.
Bitcoin Price Dips Sharply
Bitcoin price failed to stay above the $94,500 support and started a fresh decline. BTC declined sharply below the $94,000 and $93,500 support levels.
There was a move below the 61.8% Fib retracement level of the recent wave from the $89,995 swing low to the $97,898 high. Besides, there was a break below a declining channel with support at $93,550 on the hourly chart of the BTC/USD pair.
The price even spiked below $92,000. It tested the 76.4% Fib retracement level of t
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