Bitcoin Price Analysis: BTC Could Drop To New 2022 Lows Bitco | Moon Retriever

Bitcoin Price Analysis: BTC Could Drop To New 2022 Lows

Bitcoin price is struggling below $17,000 against the US Dollar. BTC might extend losses if it stays below the $17,000 and $17,200 resistance levels.

Bitcoin Price AnalysisBitcoin price started a fresh decline below the $17,000 zone. There was a steady decline below the $16,900 and $16,800 support levels. Earlier, the price attempted an upside break, but the bears were active near the $17,000 zone.

During the recent decline, there was a break below a connecting bullish trend line with support near $16,825 on the 4-hours chart of the BTC/USD pair. The decline gained pace below the $16,700 level and the 55 simple moving average (4-hours).