Bitcoin Price Drops 5%—Is the Downtrend Back in Control?

Bitcoin price corrected gains and traded below the $88,000 support zone. BTC is now consolidating and might struggle to clear the $88,500 zone.Bitcoin started a fresh decline from the $90,500 zone.
The price is trading below $88,000 and the 100 hourly Simple moving average.
There is a bearish trend line forming with resistance at $89,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might continue to move up if it settles above the $85,000 zone.Bitcoin Price Dips Furt