TA: Bitcoin Showing Early Signs of Fresh Decline, But $40K Is the Key
Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal. Bitcoin started a fresh decline below the $43,000 and $42,000 levels. The price is trading below $43,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $42,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct further, but the $40,000 support is the key. Bitcoin Price Breaks Support Bitcoin price failed to stay above the $43,000 support zone. BTC....
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