Bitcoin price is still facing resistance below $17,000. BTC could decline heavily if there is a clear move below the $16,000 support zone.
Bitcoin is still showing bearish signs below the $16,800 and $17,000 resistance levels.
The price is trading above $16,500 and the 100 hourly simple moving average.
There was a break above a key bearish trend line with resistance near $16,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could resume its decline if there is a clear move below the $16,000 support.
Bitcoin Price Remains In Downtrend
Bitcoin price spiked below the $16,500 support zone. However, BTC bulls were active above the $16,200 level. The price traded as low as $16,325 and recently started an upside correction.
There was a minor recovery wave above the $16,500 level. The price climbed above the $16,600 level and the 100 hourly simple moving average. However, the bears were active near the $16,680 zone. A high was formed near $16,683 and the price corre
We współpracy z: https://newsbtc.com/analysis/btc/bitcoin-price-consolidates-16-5k/
