Bitcoin (BTC) Price Watch: Make or Break at Channel Resistance

Bitcoin Price Key Highlights

Bitcoin price looks ready to resume the slide after hitting the resistance at the descending channel. This lines up with the Fib retracement levels, adding strength to the ceiling. Technical indicators also support a continuation of the downtrend.

Bitcoin price climbed to the top of its descending channel where sellers were waiting to push it back down.

Technical Indicators Signals

The 100 SMA is still below the longer-term 200 SMA to confirm that the path of...

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