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_Bitcoin Fails Again, Why BTC Remains At Risk of Sharp Decline

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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.

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