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Bitcoin Price Keeps Falling, Potential Drop to $35K Looms

35K, Bitcoin, Drop, Falling, Looms, Potential, Price

“Get the latest updates on Bitcoin’s price as it heads lower, with the risk of dropping to $35K becoming more significant. Stay informed and make informed decisions about your investments in the cryptocurrency market.”

Bitcoin price is currently on a downward trend, slipping below the $37,000 mark. It looks like the price may continue to decline towards the $36,000 level or even dip into the $35,000 zone in the upcoming trading sessions.

The cryptocurrency is showing signs of bearish movement, falling from the resistance level of $37,750. Currently, it is trading below $37,400 and the 100 hourly Simple Moving Average. A bearish trend line has formed with resistance near $37,380 on the hourly chart of the BTC/USD pair.

Following a spike to the $38,500 zone, Bitcoin’s price took a bearish turn and dropped below $37,000. After hitting a low of around $36,720, the price is now consolidating its losses. There is immediate resistance near the $37,400 level, along with a key bearish trend line resistance near $37,380.

The next major resistance for Bitcoin is near the $37,570 level, and if it fails to rise above this, the price could continue to move downwards. The immediate support on the downside is near the $36,720 level, with the next major support at $36,500. If the price drops below this level, it could potentially reach the $35,650 mark and ultimately the $35,000 support.

In terms of technical indicators, the MACD is showing bearish momentum, and the RSI for BTC/USD is currently below the 50 level. This indicates potential further downside movement for Bitcoin.

Overall, Bitcoin’s price is facing significant resistance levels at $37,400, $37,570, and $38,000, while the key support levels are at $36,720 and $36,000. If the current bearish trend continues, we could see Bitcoin’s price declining further in the near term.

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