Why Bitcoin Price Remains At Risk for a Fresh Drop to $30K

[Fawpac2]

Bitcoin price recovered above $34,000, but it struggled near $35,000 against the US Dollar. BTC is currently declining and it remains at a risk of more losses below $32K.

Bitcoin struggled to gain momentum above $34,500 and remained below $35,000.
The price is currently well below $33,000 and it is testing the 100 hourly simple moving average.
There is a key bullish trend line forming with support near $32,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to continue lower towards $31,500 and $30,800 in the near term.
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