Bitcoin Price Stalls Under $68,800, Resistance Caps Upside Again

Bitcoin price failed to stay above $68,800 and declined further. BTC is now consolidating below $68,000 and might continue to move down. Bitcoin started a fresh decline from well above the $70,500 zone. The price is trading below $68,800 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $67,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $68,000 and $68,800 levels. Bitcoin Price Extends Losses Bitcoin price failed to continue higher above $71,200 and reacted to the downside. BTC trimmed gains and declined below the $70,000 support. The bears pushed the price below $68,800 and $68,000. The price tested the $65,000 zone. A low was formed at $65,030, and the price is now consolidating losses near the 23.6% Fib retracement level of the downward move from the $71,985 swing high to the $65,030 low. Bitcoin is now trading below $68,000 and the 100 hourly simple movi