<div id="readability-page-1"><div>Bitcoin price started a fresh decline below the $74,000 zone. BTC is consolidating and might struggle to stay above the $72,000 support.<ul><li>Bitcoin failed to stay above $75,000 and extended losses.</li><li>The price is trading below $74,000 and the 100 hourly simple moving average.</li><li>There is a bearish trend line forming with resistance at $73,750 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li><li>The pair might extend losses if it stays below the $74,000 and $75,000 levels.</li></ul>Bitcoin Price Extends LossesBitcoin price failed to stay above the $75,500 support zone. BTC remained in a bearish zone and extended losses below the $75,000 level. There was a move below the $74,200 level.The price even dipped below $73,000. A low was formed at $72,470 and the price is now consolidating losses. It is still struggling below the 23.6% Fib retracement level of the downward move from the $77,810 swing high to the $72,470 low.Bitcoin is now trading below $74,000 and the 100 hourly simple moving average. If the price remains stable above $72,000, it could attempt a fresh increase. Immediate resistance is near the $73,800 level. There is also a bearish trend line forming with resistance at $73,750 on the hourly chart of the BTC/USD pair.<figure></figure>The first key resistance is near the $74,500 level. A close above the $74,500 resistance might send the price further higher. In the stated case, the price could rise and test the $75,150 resistance or the 50% Fib retracement level of the downward move from the $77,810 swing high to the $72,470 low. Any more gains might send the price toward the $75,500 level. The next barrier for the bulls could be $76,200.More Downside In BTC?If Bitcoin fails to rise above the $74,500 resistance zone, it could start another decline. Immediate support is near the $72,500 level.The first major support is near the $72,000 level. The next support is now near the $71,200 zone. Any more losses might send the price toward the $70,500 support in the near term. The main support now sits at $70,000, below which BTC might struggle to recover in the near term.Technical indicators:Hourly MACD – The MACD is now gaining pace in the bearish zone.Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.Major Support Levels – $72,500, followed by $72,000.Major Resistance Levels – $73,750 and $74,500.</div></div>

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Bitcoin price has declined below $74,000, struggling to maintain support at $72,000. After failing to hold above $75,000, it dipped to a low of $72,470. Immediate resistance is at $73,800, while key support levels are at $72,500 and $72,000. If Bitcoin cannot rise above $74,500, further declines may occur, potentially reaching $70,500. Technical indicators show a bearish trend.

- Bitcoin's price is in decline, failing to hold above $75,000 and currently trading below $74,000, with support at $72,000.  
- A bearish trend line is forming with resistance at $73,750, potentially extending losses if Bitcoin remains below $74,500.  
- Immediate support levels are at $72,500 and $72,000, with major support at $70,000, while resistance could lead to a rise towards $75,500 if surpassed.

Bitcoin Price Extends Decline Rapidly As Key Supports Paves Way