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 Price Remains Supported
Bitcoin price started a downside correction from the $16,800 resistance zone. BTC declined below the $16,500 support level and the 100 hourly simple moving average.
The price even moved below the $16,200 level, but the bulls were active near the $16,000 support zone. A low was formed near $16,000 and the price is now consolidating losses. There was a minor increase above the $16,200 level.
Bitcoin price is now ..
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