Bitcoin price started a downside correction after it failed to clear the $28,500 resistance zone. BTC moved below the $28,200 and $28,000 levels. There was also a drop below the $27,800 level but the bulls were active near the $27,500 support. A low is formed near $27,559 and the price is now consolidating. There was already a test of the 50% Fib retracement level of the recent decline from the $28,045 swing high to the $27,559 low. Bitcoin price is now trading above $27,550 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $27,850 on the hourly chart of the ... (full story)