Bitcoin price against the US Dollar (BTC/USD pair) started its downward fall after it reached the US$41,000-zone. Currently, it is hovering around US$38,696.26 and is struggling to stay above the US$38,000 zone. the technical charts indicate that the BTC price is likely to go downwards if it fails to hold on to the US$36,000-level.

Bitcoin failed to hold on to the US$40,000 level and extend gains after it touched the US$41,000-level. It traded close to this level and started a fresh decline, thereby breaking the crucial support levels at US$40,000 and US$39,200 respectively. During the downward slide, the BTC/USD pair even dived below the $38,600 support level as well as the 100 hourly SMA (simple moving average). On the BTC/USD pair’s hourly chart, a distinct break can be seen below a major bullish trend line with support near US$38,550.

https://medium.com/daily-highlights-crypto-analysis-news/bitcoin-btc-price-may-continue-lower-if-it-closes-below-us-38-000-8c6bde832fd5

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