Bitcoin Price Faces Hurdle And Remains At Risk of Additional Losses

Bitcoin price is correcting losses from the $27,660 zone. BTC is now facing strong resistance near the $28,800 and $29,000 levels. Bitcoin is attempting a fresh increase above the $28,500 resistance zone. The price is trading below $28,800 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $28,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline again if it fails to surpass the $28,800 resistance zone. Bitcoin Price Upsides Capped Bitcoin price formed a base and started a recovery wave above the $28,000