Bitcoin price struggled to clear the $16,800 resistance. BTC is moving lower and there is a risk of more losses below the $16,000 support zone.
- Bitcoin attempted an upside break above the $16,800 resistance, but failed.
- The price is trading below $16,500 and the 100 hourly simple moving average.
- There is a major bearish trend line forming with resistance near $16,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to decline if it breaks the $16,000…
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