TA: Bitcoin Price Below 100 SMA Could Spark Bearish Reaction

[AJBot]

Bitcoin is slowly moving lower below $24,500 against the US Dollar. BTC could drop in the short-term if it stays below the 100 hourly SMA. Bitcoin started a downside correction after it failed to settle above $25,000. The price is now trading below the $24,500 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $24,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below the $23,780 and ...

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