Bitcoin price has experienced a fresh decline below the $85,000 support level. In order to prevent further losses in the near future, it is crucial for BTC to stay above the $80,000 zone. The price has fallen below various support levels, including $86,500 and $85,000, reaching a low of $80,000. Currently, the price is consolidating losses and showing bearish signs. It is trading below the 100 hourly Simple moving average and the immediate resistance is at the $81,650 level. If Bitcoin fails to rise above the $85,000 resistance zone, it could initiate a new decline, with immediate support at $80,000 and subsequent support levels at $78,500, $76,200, and $75,000. The MACD is currently in the bearish zone and the RSI for BTC/USD is below the 50 level.



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