Bitcoin price extended its decline below the $17,000 level. BTC could avoid a major drop if it closes above the $17,000 resistance zone.
Bitcoin Price Is Showing Bearish Signs
Bitcoin price failed to stay in a positive zone above the $17,000 pivot level. BTC bears were active and there was a push below the $16,800 support zone.
The price tested the $16,700 level and settled below the 100 hourly simple moving average. A low is formed near $16,700 and the price is now consolidating losses. There was a minor increase above the $16,800 resistance level.
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