Why Bitcoin Price Is At Risk of A Drop Below $45,000

[Micky]

Bitcoin price failed to settle above the $50,000 pivot zone against the US Dollar. BTC is now showing bearish signs and it seems like it could even decline below the $45,000 support.

Bitcoin started a fresh decline after it failed to clear the $51,500 and $52,000 resistance levels.
The price is now trading well below the $50,000 level and the 100 hourly simple moving average.
There was a break below a key bullish trend line with support at $49,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could move down further towards $45,000 or even $42,000 if it remains in the red zone.

TA: Why Bitcoin Price Is At Risk of A Drop Below $45,000
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