TA: Bitcoin is peaking and failing again, which could lead to an even bigger drop

The price of Bitcoin failed to show any clear resistance of $ 35,000, setting off a fresh drop against the US dollar. BTC is still at risk of further decline as long as it is below $ 34,000.

Bitcoin failed to increase earnings above $ 34,650 and set a new low below $ 34,000.
The price is currently trading at $ 33,500 and below the 100-hour simple moving average.
On the hourly chart of the BTC / USD pair, there was a break below the main bullish Trend line with support of $ 33,900 (data flow from the Kraken).
The pair could rectify losses but face sellers close to $ 34,000 and a 100-hour SMA.

Bitcoin Price Falls Again
Yesterday, we saw a decent Bitcoin increase above resistance levels of $ 33,500 and $ 34,000. BTC rose above the $ 34,500 level, but failed to increase profits.

The price hit a high of around $ 34,676 before beginning a new decline. It broke the $ 34,000 support level and fell below the 100-hour simple moving average. In addition, there was a break below the main bullish Trend line with support around $ 33,900 on the hourly chart of the BTC/USD pair.

The pair jumped below the $ 33,000 level and traded at $ 32,675. Bitcoin is currently recovering losses and trading above $ 33,000. It is testing the Fibonacci correction level by 23.6%, compared with the recent drop from $ 34,676 to a low of $ 32,675.

The first major resistance is close to the $ 33,500 level and the 100-hour SMA. The latest drop of 50% from $ 34,676 to $ 32,675 is also close to $ 33,600.

Source: BTCUSD on TradingView.com
The main resistance is currently close to the $ 34,000 level. To avoid additional disadvantages in the near term, October needs to rise above the $ 34,000 level.

Are there more losses at BTC?
If Bitcoin fails to rise above resistance levels of $ 33,500 and $ 34,000, there is a greater risk of decline. The initial support at the bottom is close to $ 32,650.

The first big boost is close to $ 32,500. Main support still close to $ 32,200, including t

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