Bitcoin Price Consolidates Near $50K, Why BTC Bulls Could Fail Near $52.5K

Bitcoin price extended its decline below the $50,000 support against the US Dollar. BTC is now consolidating losses and it remains at a risk of more downside below $48,000. Bitcoin declined heavily below the $52,000 and $50,000 support levels. The price is now trading well below $52,000 and the 100 simple moving average (4-hours). There is a key bearish trend line forming with resistance near $52,800 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could correct losses, but it might face resistance near $52,000…

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