Bitcoin price made another attempt to gain momentum above the $47,000 resistance zone.
There was a downside break below the $46,000 support level and the 100 hourly simple moving average.
It is near the 23.6% Fib retracement level of the recent decline from the $46,845 swing high from the $45,048 low.
The next resistance could be near $45,800 or $45,900.
Besides, there is a key bearish trend line forming with resistance near $46,600 on the hourly chart of the BTC/USD pair.
If bitcoin fails to clear the $46,000 resistance zone, it could continue to move down.
In the stated case, the price could even decline to $44,360 in the near term.
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