Bitcoin Close Below $46K Could Spark Larger Degree Decline

Aayush Jindal by Aayush Jindal 2 days ago Advertisement Bitcoin price failed once again to clear the $48,500 resistance zone against the US Dollar. BTC is declining and it could even decline below the $46,200 support zone. Bitcoin started a fresh decline after it failed to surpass the $48,500 resistance zone. The price is still trading below $47,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $48,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue lower if it fails to stay above the $46,800 support zone. Bitcoin Price Is Facing Hurdles Bitcoin price made another attempt to clear the $48,500 resistance level. BTC spiked above the $48,500 resistance, but it failed to continue higher.