Bitcoin price struggled to clear the $16,800 resistance. BTC is moving lower and there is a risk of more losses below the $16,000 support zone.
Bitcoin attempted an upside break above the $16,800 resistance, but failed.
The price is trading below $16,500 and the 100 hourly simple moving average.
There is a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to decline if it breaks the $16,000 support zone.
Bitcoin Price Faces Rejection
Bitcoin price attempted an upside break above the $16,800 resistance zone. BTC struggled to gain pace for a move above the $16,800 resistance and formed a double top pattern.
There was a slow and steady decline from the $16,791 high. There was a move below the $16,500 and $16,400 levels. The bears were able to push the price below the 23.6% Fib retracement level of the upward move from the $15,470 swing low to $16,790 high.
Bitcoin price is now trading belo
We współpracy z: https://newsbtc.com/analysis/btc/bitcoin-price-prediction-fresh-drop-16k/
