Bitcoin price is still struggling to clear the $44,500 and $44,700 resistance levels. BTC is showing a few bearish signs and might drop toward $42,150.
- Bitcoin is facing a major hurdle near the $44,500 resistance zone.
- The price is trading below $44,000 and the 100 hourly Simple moving average.
- There was a break below a key bullish trend line with support at $44,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could decline toward the $42,350 and $42,150 support levels.
Bitcoin Price Faces Hurdles
Bitcoin price attempted a fresh increase above the $43,500 resistance zone. BTC even broke the $43,800 resistance zone but the bears were active near the $44,500 resistance zone.
There were a few attempts to gain strength above $44,500, but the bears remained active. A high was formed near $44,483 and the price is now showing a few bearish signs. There was a drop below the $44,000 support zone. The price traded below the 50% Fib retracement level of the upward move from the $42,480 swing low to the $44,483 high.Besides, there was a break below a key bullish trend line with support at $44,000 on the hourly chart of the BTC/USD pair. Bitcoin is now below $44,000 and the 100 hourly Simple moving average.
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