Bitcoin Price Faces Another Rejection As Upside Momentum Fades

Bitcoin price failed to stay above $70,000 and started another decline. BTC is now trading below $68,800 and might extend losses in the near term.

• Bitcoin is slowly moving lower below $69,500 and $69,200.
• The price is trading near $68,400 and the 100 hourly simple moving average.
• There was a break below a bullish trend line with support at $69,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might dip again if it trades below the $68,400 and $68,000 levels.

Bitcoin Price…