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You are currently viewing Bitcoin Extends Slide as Bears Tighten Grip on Price Action

Bitcoin price is gaining pace below $115,500. BTC is still showing bearish signs and remains at risk of more losses below the $112,000 zone.

Bitcoin started a fresh decline below the $116,500 zone. The price is trading below $115,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $115,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another increase if it clears the $115,500 resistance zone. Bitcoin Price Dips Further

Bitcoin price started a fresh decline after a close below the $118,000 level. BTC gained bearish momentum and traded below the $116,500 support zone.

There was a move below the $115,500 support zone and the 100 hourly Simple moving average. The pair tested the $112,500 zone. A low was formed at $112,610 and the price is now consolidating below the 23.6% Fib

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