Bitcoin Bears Turn The Tide As Risk of More Downsides Escalate

Oct 12, 2023 04:00 am Cryptocurrency 76

Bitcoin price is sliding and trading below $27,000. BTC is still at risk of more downsides below the $26,500 and $26,200 support levels.

Bitcoin is moving lower and showing bearish signs below $27,000.

The price is trading below $27,000 and the 100 hourly Simple moving average.

There are two bearish trend lines forming with resistance near $26,950 and $27,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could continue to move down toward the $26,000 support in the near term.

Bitcoin Price Extends Losses

Bitcoin price struggled to start a recovery wave above the $27,500 resistance. BTC remained in a bearish zone and declined further below the $27,000 level.

There was a drop below the $26,800 level and the price tested the $26,500 support. A low is formed near $26,551 and the price is again attempting a recovery wave. There was a minor increase above the $26,800 level. However, the price is still facing ..

Support the originator by clicking the read the rest link below.