Bitcoin price again failed to clear the $38,000 resistance zone. BTC is likely forming a double top and might decline toward the $34,500 support.
Bitcoin started a fresh decline from the $38,000 resistance zone.
The price is trading below $36,750 and the 100 hourly Simple moving average.
There is a connecting bullish trend line forming with support near $36,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline further if there is a break below the $35,950 support.
Bitcoin Price Forms Double Top Scenario
Bitcoin price made another attempt to clear the $38,000 resistance. However, BTC failed to clear the $38,000 resistance and started a fresh decline. It seems like the price is forming a double-top pattern near the $38,000 zone.
There was a sharp move below the $37,200 and $37,000 levels. The price even spiked below the $36,500 level and the 100 hourly Simple moving average. Finally, the bulls appeared near the $35,500 level. A low was formed near $3
We współpracy z: https://www.newsbtc.com/analysis/btc/bitcoin-price-signals-bearish-pattern-38k/
