Bitcoin price started a fresh decline below $95,000. BTC is consolidating 
losses and remains at risk of more losses if it dips below $92,000. Bitcoin 
started a sharp decline below $95,000 and $94,000. The price is trading below 
$93,500 and the 100 hourly Simple moving average. There was a break below a 
declining channel with support at $93,550 on the hourly chart of the BTC/USD 
pair (data feed from Kraken). The pair might continue to move down if it stays 
below the $954000 zone. Bitcoin Price Dips Sharply Bitcoin price failed to 
stay above the $94,500 support and started a fresh decline. BTC declined 
sharply below the $94,000 and $93,500 support levels. There was a move below 
the 61.8% Fib retracement level of the recent wave from the $89,995 swing low 
to the $97,898 high. Besides, there was a break below a declining channel with 
support at $93,550 on the hourly chart of the BTC/USD pair. The price even 
spiked below $92,000. It tested the 76.4% Fib retracement level of the recent 
wave from the $89,995 swing low to the $97,898 high. Bitcoin is now trading 
below $93,500 and the 100 hourly Simple moving average. If the price remains 
stable above $92,000, it could attempt a fresh increase. Immediate resistance 
is near the $93,000 level. The first key resistance is near the $93,500 level. 
The next resistance could be $94,000. A close above the $94,000 resistance 
might send the price further higher. In the stated case, the price could rise 
and test the $95,000 resistance. Any more gains might send the price toward 
the $95,500 level. The next barrier for the bulls could be $96,200 and 
$96,400. Downside Continuation In BTC? If Bitcoin fails to rise above the 
$93,500 resistance zone, it could start another decline. Immediate support is 
near the $92,000 level. The first major support is near the $91,800 level. The 
next support is now near the $91,300 zone. Any more losses might send the 
price toward the $90,500 support in the near term. The main support sits at 
$90,000, below which BTC might accelerate lower in the near term. Technical 
indicators: Hourly MACD – The MACD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 
level. Major Support Levels – $92,000, followed by $91,800. Major Resistance 
Levels – $93,000 and $93,500.

Bitcoin Price Sharp Pullback Raises One Question: Will $92K Hold?

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On Sunday evening, around 6:15 p.m. Eastern time, bitcoin slipped below the 
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