Bitcoin Price Faces Rejection, Why BTC Could Resume Its Downtrend
Bitcoin price struggled to clear the $17,000 resistance. BTC seems to be forming a double top pattern and might dive below the $16,000 support.
- Bitcoin attempted an upside break above the $17,000 resistance, but failed.
- The price is trading above $16,300 and the 100 hourly simple moving average.
- There was a break below a key bullish trend line with support near $16,420 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair …