Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses

Bitcoin price started a fresh decline from the $24,250 resistance zone against the US Dollar. BTC declined below $23,000 and remains at a risk of more losses.

  • Bitcoin started a fresh decline below the $23,500 support zone.
  • The price is now trading below the $23,500 level and the 100 hourly simple moving average.
  • There was a break below a major bullish trend line with support near $23,320 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair must clear the $23,250…

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