Bitcoin Price Consolidates Below $35K – Here’s What Could Trigger Bearish Reaction

Bitcoin price attempted a fresh increase above the $34,500. BTC could start a major downside correction if there is a close below the 100 hourly SMA.Bitcoin is still struggling to clear the $35,000 resistance.
The price is trading above $34,200 and the 100 hourly Simple moving average.
There is a key rising channel forming with support near $34,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could decline sharply if there is a close below $34,000 and then $33,400.Bi