Bitcoin price started a fresh declined below the $100,000 zone. BTC is down close to 10% and might test the $90,000 support zone.
- Bitcoin started a fresh decline below the $100,000 level.
- The price is trading below $99,500 and the 100 hourly Simple moving average.
- There is a key bearish trend line forming with resistance at $96,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it stays above the $90,000 zone.
Bitcoin Price Dives Below $100,000
Bitcoin price started another decline below the $100,000 zone. BTC gained bearish momentum for a move below the $98,000 and $95,000 levels. It even dived below $93,000.
A low was formed at $90,944 and the price is now consolidating losses. There was a minor increase above the $92,500 level. The price even tested the 23.6% Fib retracement level of the downward move from the $106,000 swing high to the $90,944 low. However, the bears are now active near the $95,000 zone.
Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $95,000 level. The first key resistance is near the $96,500 level. There is also a key bearish trend line forming with resistance at $96,200 on the hourly chart of the BTC/USD pair.
