Bitcoin Price at Risk Again as Peace Talks Collapse, Downside Looms
Bitcoin price started a fresh decline from the $73,800 zone. BTC is consolidating and might struggle to stay above the $70,500 support. The first key resistance is near the $72,000 level. A close above the $72,000 resistance might send the price further higher. In the stated case, the price could rise and test the $72,500 resistance. Any more gains might send the price toward the $73,200 level. The next barrier for the bulls could be $74,000. If Bitcoin fails to rise above the $72,000 resistance zone, it could start another decline. Immediate support is near the $70,800 level. The first major support is near the $70,500 level. The next support is now near the $70,000 zone. Any more losses might send the price toward the $69,200 support in the near term. The main support now sits at $68,800, below which BTC might struggle to recover in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $70,500, followed by $70,000. Major Resistance Levels – $71,500 and $72,000.Downside Continuation In BTC?
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