Bitcoin started a fresh decline from the $23,000 resistance against the US Dollar. BTC is declining and remains at a risk of a sharp decline below $21,800. Bitcoin started a downside correction and traded below the $22,200 level. The price is now trading below the $22,500 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $22,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might decline heavily if there is a clear move below the $21,450 level. Bitcoin Price Starts Fresh Decline Bitcoin price attempted a clear move above the $24,000 resistance zone. However, the bears appeared near $23,800 zone. The last swing high was formed near $23,744 before there was a fresh decline. The price declined below the $22,500 support level and the 100 hourly simple moving average. However, the bulls were active near the $21,950 zone. Recently, there was an upside correction above the $22,200 resistance zone. The price climbed above the 23.6% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low. However, the price faced sellers near the $23,000 zone and the 100 hourly simple moving average. The price failed near the 50% Fib retracement level of the downward move from the $22,744 swing high to $21,950 low. It is now moving lower below $22,000. There was a break below a key bullish trend line with support near $22,700 on th...
