Bitcoin price struggled to move above the $7770 level against the US Dollar and started a downside move.
There was a break below a major bullish trend line with support at $6780 on the 4-hours chart of BTC/USD (data feed from SimpleFX).
The pair is now well below the $6500 level and remains in the bearish zone.
Bitcoin price struggled and moved below $6500 against the US Dollar. BTC/USD might continue to decline and it could even break $6000.

Bitcoin Price Turned Bearish?

It was yet another bullish week for bitcoin price as it moved above the $7500 level against the US Dollar. The price even managed to move above $7700 and traded to a new all-time high of $7773. Later, it failed to hold gains and started a downside move. It broke the 23.6% Fib retracement level of the last wave from the $5362 low to $7773 high. The downside move was strong as the price broke the $7000 level and the 100 simple moving average (H4).