Bitcoin price declined heavily and traded below $17,000. BTC is consolidating losses and remains at a risk of more losses below the $16,500 support.
- Bitcoin started a fresh decline below the $17,200 and $17,000 support levels.
- The price is trading below $17,000 and the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $16,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move lower unless it clears…
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