Why Bitcoin Price Remains At Risk of A Drop To $31K After Elion’s Rally

[Rakin343]

Bitcoin price rallied towards the $38,000 resistance, but it failed to hold gains against the US Dollar. BTC started a fresh decline and it is now struggling to stay above $33,500.

Bitcoin is showing a few bearish signs below the $35,000 and $35,500 resistance levels.
The price is now trading near the $34,000 pivot level and the 100 simple moving average (4-hours).
There is a key bullish trend line forming with support near $33,900 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair either decline heavily towards $31,000 or it might clear $35,000 for a fresh increase. more information