Ta: Bitcoin has reached an important crossroads, why BTC may be hard to recover from

The price of Bitcoin fell below the support of $ 33,500 against the US dollar. BTC is now consolidating over $ 32200, among which it may be accelerating decelerously lower.

Bitcoin has started a new decline below the support levels of $ 33,500 and $ 33,200.
The price is currently trading below the $ 33,000 support and 100-hour simple moving average.
On the hourly chart of the BTC / USD pair there is a short-term contract triangle shape with resistance around $ 33,000 (kraken data channel).
The pair could be trimmed higher, but the Bulls will likely face resistance close to $ 33,500.

Bitcoin Price Test Key Support
Bitcoin remains above $ 33,500 in support, extending its decline. BTC even broke the $ 33,000 support field, settling well below the 100-hour simple moving average.

The price even reached below 32 to 200 dollars, but then followed the move. It now compiles losses above the support area of $ 32,200. It is now approaching a $ 23.6 Fibonacci correction level of $ 35,975, down from a Tuesday low of $ 32,150.

The hourly chart of the BTC / USD pair also shows a short-term contract triangle shape with resistance around $ 33,000. Triangle support 32 close to the $ 200 zone.

Source: BTCUSD on TradingView.com
So 32 is the first big boost close to the $ 200 zone. The next big boost is close to $ 32,000. If the Bitcoin price does not stay above the $ 32,000 support, there could be a sharp drop. The next big boost is near the $ 30,500 level. Additional losses could push the price below October’s main support area of $ 30,000 in the near term.

Are the advantages limited in BTC?
If Bitcoin remains steady above the $ 32,000 support area, it could begin an upward correction. On the positive side, sudden resistance is near the $ 33,000 level.

The first major resistance is about $ 33,500. Near the 50% Fibonacci correction level of the recent drop, from Tuesday’s swing level of $ 35 975 to a drop of $ 32 150. If a close above the resistance zone of $ 33,500, the price of C

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