Bitcoin Price Declines Below Key Support Levels
- Bitcoin started a fresh decline below the $115,000 zone.
- The price is trading below $114,500 and the hourly Simple Moving Average.
- A bearish trend line is forming with resistance at $114,000 on the BTC/USD chart.
- Immediate support levels are near $112,000 and $111,250.
- Major resistance levels are identified at $114,000 and $115,000.
Bitcoin price has dipped further after failing to maintain above the $116,500 level, entering a short-term bearish zone with significant declines past key support levels like $115,500 and $115,000.
The current trading situation shows Bitcoin consolidating losses below crucial resistance points such as the bearish trend at $114,000 and potential further declines if these resistances aren’t cleared soon (Source).
