Bitcoin Price Teeters on Edge, Will Support Finally Snap?

Bitcoin price started a fresh decline from the $69,250 zone. BTC is now struggling to stay above $66,000 and might extend losses in the near term. Bitcoin failed to settle above $68,000 and started a fresh decline. The price is trading below $67,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $67,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $67,500 and $67,800 levels. Bitcoin Price Dips Again Bitcoin price failed to stay above the $68,800 zone and started a fresh decline. BTC traded below $68,200 and $68,000 to enter a bearish zone. The bears even pushed the price below $67,000. A low was formed at $65,688, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $69,250 swing high to the $65,688 low. Bitcoin is now trading below $67,000 and the 100 hourly simple moving average. If the price remain