RATE Group | Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline
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Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

21 Aug Bitcoin (BTC) Price Recent Breakdown Could Accelerate Decline

Posted at 06:46h in Bitcoin News by

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  • Bitcoin price failed to surpass the $11,000 resistance and recently declined against the US Dollar.
  • The price is currently trading below the key $10,600 and $10,500 support levels.
  • This week’s followed crucial bullish trend line was breached with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The price is currently at a risk of more downsides below the $10,250 support area.

Bitcoin price is currently facing an increase in selling below $10,500 against the US Dollar. Therefore, BTC could accelerate its decline if there is a break below $10,000.

Bitcoin Price Analysis

Yesterday, BTC climbed above the $10,800 resistance area against the US Dollar. However, the price struggled to gain momentum above the $10,950 and $11,000 levels. A swing high was formed near $10,960 and recently the price started a downside correction. Similarly, there were bearish moves in Ethereum and ripple below $200 and $0.2700 respectively in the past few sessions.

Recently,…

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