TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $45K

Bitcoin is struggling below the $45,000 resistance against the US Dollar. BTC must stay above $43,180 to avoid a sharp decline in the near term. Bitcoin is showing a few bearish signs below $45,000 and $44,500. The price is trading above $43,500 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a clear move below $43,180. Bitcoin Price Stuck Below $45K Bitcoin price failed to test the $45,000 resistance and started a downside correction. BTC declined below the $44,000 support level to move into a short-term consolidation phase. There was a break below the 23.6% Fib retracement level of the upward move from the $41,574 swing low to $44,770 high. However, the price is still trading above $43,500 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair. Recently, the price dipped below the $43,250 level, but it was supported above the $43,000 level. Bitcoin is now consolidating near the $44,000 level. Source: BTCUSD on TradingView.com On the upside, an initial resistance for the bulls is near the $44,450 level. The next key resistance is near the $44,800 level or the $44,700 high. The main resistance is still near $45,000. A clear move above the $45,000 resistanc...