Bitcoin price extended its decline and tested the $16,000 support. BTC is forming a base and might soon rise above the $16,500 resistance zone.
- Bitcoin declined further and tested the $16,000 support zone.
- The price is trading below $16,500 and the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $16,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start a decent increase if it clears the $16,500 resistance…
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