Yes

>>Bitcoin's price decline continues, with traders showing restraint amid increasing selling pressure.

Bitcoin's price decline continues, with traders showing restraint amid increasing selling pressure.

crypthub

about 19 hours ago

Recent Price Correction

Bitcoin's price has experienced a correction, trading below the $124,000 level and struggling to maintain gains. The price dipped below key support levels, including $121,200 and reaching a low of $119,810. Bears remain active, impacting upward momentum and pushing the price downward.

Technical Analysis & Resistance

A bearish trend line is forming with resistance at $122,750 on the hourly chart. Resistance levels are now near $121,750, $122,750, and $123,500. The hourly MACD is gaining pace in the bearish zone, and the RSI is below the 50 level.

Potential Further Declines

If Bitcoin fails to surpass the $122,750 resistance zone, a fresh decline is anticipated. Immediate support sits near $120,750, followed by $120,000 and $118,500. Further losses could lead to tests of support at $116,500 and $115,500.