Bitcoin Price Restarts Decline, Can BTC Bulls Protect $60K?

Bitcoin price started another decline from the $67,000 zone. BTC is showing bearish signs and might soon revisit the $61,000 support zone.

Bitcoin failed to clear the $67,000 resistance zone.

The price is trading below $65,000 and the 100 hourly Simple moving average.

There was a break below a rising channel with support at $64,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could extend its decline unless it clears the $65,000 resistance zone.

Bitcoin Price Recovery Stalls

Bitcoin price attempted a recovery wave above the $65,000 resistance zone. BTC even climbed above $66,200, but the bears were active near the $67,000 zone.

A high was formed at $66,898 and the price started another decline amid rising tensions between Israel and Iran. There was a move below the $65,000 and $64,000 levels. The price traded below the 50% Fib retracement level of the upward move from the $60,495 swing low to the $66,898 high.

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