Bitcoin declined after enjoying a bullish movement for a while

Bitcoin price failed again to clear the $35,000 resistance against the US Dollar. BTC started a fresh decline below $34,000 and it remains at a risk of more downsides.

Bitcoin started a fresh decline after it failed to settle above the $35,000 resistance zone.
The price is now trading below the $33,500 support and the 100 hourly simple moving average.
There was a break below a major bullish trend line with support near $33,850 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could correct higher, but the bulls are likely to face resistance near $34,000.
Bitcoin Price Breaks Key Support
Bitcoin gained pace after it broke the $34,000 resistance zone. BTC even spiked above the $35,000 resistance, but there was no upside continuation.

The price formed a high near $35,000 and it started a fresh decline. There was a break below the $34,000 support level. Besides, there was a break below a major bullish trend line with support near $33,850 on the hourly chart of the BTC/USD pair.


The pair is now trading below the $33,500 support and the 100 hourly simple moving average. A low is formed near $33,134 and the price is now consolidating losses.

Do you think the price will slump further?

At this time i can't guess what the future holds for BTC, that's why I've withdrawn from trading it, decided to holdl it for long till things balance. I love swapping coins when I've gotten signal about its imminent rise in the short while. At this time, I'll be swapping my BTC to stable coin, cos I'm feeling more low around the coin.

sincerem said:

At this time i can't guess what the future holds for BTC, that's why I've withdrawn from trading it, decided to holdl it for long till things balance. I love swapping coins when I've gotten signal about its imminent rise in the short while. At this time, I'll be swapping my BTC to stable coin, cos I'm feeling more low around the coin.

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I think you should try cardano. Cardano have enjoyed a bullish movement in the bearish market for certain number of time and I wish you try and trade on ADA. The project is going places , the founder is trying so many ways to make ADA the future coin

Of course this has been the Fate of Bitcoin and cryptocurrency is generally. They will always rise and fall. Just about some months ago bitcoin was about 60,000 dollars and today it is about at $35000 or so period there are also other cryptocurrencies that has been rising and falling for a very long time and this will continue to be the Fate of cryptocurrencies generally so it is definitely not a new thing.

With what's going on in crypto world these days, it is hardly to determine or even predict what the future holds for bitcoins now. The price keeps on going down especially for bitcoin. Close observation will show that the slumped price of bitcoins is not naturally but being influenced by some people who are waging war against crypto in general.

Well , you should expect this to happen. Bitcoin is a cryptocurrency and cryptocurrency are always volatile in nature. I would have loved to buy more bitcoin now that the price is dipping because it will not be long before the price starts to rise again.
The best thing to do now is to be patient with the dip.