TA: Bitcoin Price Struggles Below $25K, Signs of Double Top Emerges

Bitcoin failed to clear the $25,000 resistance zone against the US Dollar. BTC is declining and might break the $23,250 support zone. Bitcoin attempted a clear move towards the $25,000 resistance but failed. The price is now trading below the $24,000 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $23,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $24,200 resistance to continue higher in the near term. Bitcoin Price Signals Breakdown Bitcoin price gained pace above the $23,500 resistance zone. There was a clear move above the $24,000 level and the price even broke the $24,500 level. It attempted a clear move towards the $25,000 resistance but failed. A high was formed near $24,670 and the price started a fresh decline. There was a move below the $24,200 and $24,000 support levels to move into a short-term bearish zone. Bitcoin declined below the 23.6% Fib retracement level of the upward move from the $20,696 swing low to $24,670 high. Besides, there was a break below a key bullish trend line with support near $23,750 on the hourly chart of the BTC/USD pair. The price is now trading below the $24,000 level and the 100 hourly simple moving average. The bulls are now protecting more losses below the $23,250 level. On the upside, the price is facing resistance near the $23,750 level and the 100 hourly simple moving aver...