TA: Bitcoin Consolidates Below $48K: What Could Trigger A Sharp Decline
Bitcoin is struggling to recover above the $48,000 resistance against the US Dollar. BTC could decline heavily if there is a clear break below $46,000. Bitcoin started a consolidation phase below the $48,500 and $48,000 resistance levels. The price is trading below $48,000 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $47,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a larger decline unless it surges above the $48,000 barrier. Bitcoin Price Remains At Risk Bitcoin price....
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