Bitcoin Plunge: Is The Floor Breaking

Bitcoin Price Takes Another Tumble—Is The Floor About to Crack?

• Bitcoin price declined below the $78,000 zone.
• The price is trading below $78,500 and the 100 hourly Simple Moving Average.
• A bearish trend line shows resistance at $79,500 on the BTC/USD hourly chart.
• Immediate resistance is near the $77,800 level.
• The first major support level is around $74,750.

The Bitcoin price has dipped below significant levels such as $78,000 and is currently trading under the 100 hourly Simple Moving Average. Resistance levels are noted at $77,800 and potentially higher at $79,500 if a recovery occurs.