Bitcoin price broke the key $25,350 support. BTC is now consolidating near $25,000 and remains at a risk of more downsides in the near term.
Bitcoin traded below the $25,600 and $25,350 support levels.
The price is trading below $25,600 and the 100 hourly Simple moving average.
There is a major bearish trend line forming with resistance near $25,620 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down if it stays below the $25,600 resistance.
Bitcoin Price Breaks Key Support
Bitcoin price failed to start a recovery wave and extended its decline below the $25,600 support. BTC even broke the $25,350 support and moved into a bearish zone.
The price even spiked below the $25,000 level. A low is formed near $24,925 and the price is now consolidating losses. Bitcoin is now trading below $25,600 and the 100 hourly Simple moving average. Besides, there is a major bearish trend line forming with resistance near $25,620 on the hourly chart of the
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