Bitcoin Price Recovery at Risk, Sellers Prepare to Reassert Control

Bitcoin price started a recovery wave above $67,500. BTC is now consolidating below $68,800 and might struggle to continue higher. Bitcoin started a recovery wave above $67,000 and $67,200. The price is trading above $67,000 and the 100 hourly simple moving average. There is a rising channel forming with resistance at $68,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $68,500 and $68,800 levels. Bitcoin Price Eyes Recovery Bitcoin price formed a base above $65,500 and started a recovery wave. BTC was able to settle above $66,000 to move into a short-term positive zone. The price climbed above the $67,200 resistance zone. The bulls even cleared the 38.2% Fib retracement level of the downward move from the $71,986 swing high to the $65,030 low. However, the bears are now active near the $68,500 resistance zone. Bitcoin is now trading above $67,000 and the 100 hourly simple moving average. If the price remain