Bitcoin price started another decline after it struggled near $64,550. BTC declined below the $63,500 support and might continue to move down.


■ Bitcoin started a fresh decline from the $64,550 resistance level.

■ The price is trading below $63,500 and the 100 hourly Simple moving average.

■ There is a connecting bearish trend line forming with resistance at $63,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).

■ The pair could extend losses if there is a clear move below the $62,700 and $62,500 support levels.