Bitcoin price started a fresh decline below the $78,500 zone. BTC is consolidating and might struggle to stay above the $76,500 support.
Bitcoin failed to stay above $78,500 and extended losses.
The price is trading below $78,000 and the 100 hourly simple moving average.
There is a bearish trend line forming with resistance at $77,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might extend losses if it stays below the $77,700 and $78,500 levels.
Bitcoin Price Dips Further
Bitcoin price failed to stay above the $78,500 support zone. BTC remained in a bearish zone and extended losses below the $78,000 level. There was a move below the $77,500 level.
The price even dipped below $77,000. A low was formed at $76,561 and the price is now consolidating losses. It is showing bearish signs below the 23.6% Fib retracement level of the downward move from the $82,017 swing high to the $76,561 low.
Bitcoin is now trading below $77,500 and the 100 hourly
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-extends-decline-78k/
