Bitcoin price started a fresh decline after it failed to stay above $40,000 against the US Dollar. BTC is moving lower and it could even decline towards $35,000 in the near term.
- Bitcoin started a fresh decline from well above the $40,000 pivot level.
- The price is now trading well below $39,000 and the 100 hourly simple moving average.
- There is a major bearish trend line forming with resistance near $38,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair is likely to continue lower if it fails to stay above the $37,200 support zone.
Bitcoin Price Extends Decline
Bitcoin failed to stay above the key $40,000 support zone and started a fres
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