Bitcoin price started a sharp decline from well above $73,000. BTC is now consolidating and might aim for a fresh increase if it clears $72,400.
Bitcoin started a sharp decline below $72,000 and $71,500.
The price is trading below $72,500 and the 100 hourly simple moving average.
There is a bearish trend line forming with resistance at $71,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might continue to rise if it clears the $71,500 and $72,400 levels.
Bitcoin Price Starts Consolidation
Bitcoin price started a sharp decline from well above $73,000. BTC declined below $72,500 and $72,000 to enter a short-term bearish zone.
The bears even pushed the price below $71,200. There was a move toward $68,800. A low was formed at $68,782, and the pair is now consolidating losses. There was a minor upward move above $70,000. The price tested the 23.6% Fib retracement level of the recent decline from the $75,998 swing high to the $68,782 low.
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We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-cools-off-70k/
