#btccoinpair Bitcoin price is correcting gains from the $95,000 zone. BTC is back below $94,000 and might test the $91,200 support zone in the near term.

Bitcoin started a minor downside correction below the $94,000 zone.

The price is trading below $94,000 and the 100 hourly Simple moving average.

There is a connecting bearish trend line forming with resistance at $94,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start another increase if it clears the $94,200 zone.

Bitcoin Price Starts Downside Correction

Bitcoin price remained stable above the $90,000 level and started a fresh increase. BTC was able to climb above the $91,500 and $94,000 resistance levels.

The bulls were able to pump the price above the $94,500 resistance. The recent high was formed at $95,348 and the price started a downside correction. There was a drop below the $94,500 and $94,000 levels. A low was formed at $92,900 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $95,348 swing high to the $92,900 low.

Bitcoin price is now trading below $94,000 and the 100 hourly Simple moving average. There is also a connecting bearish trend line forming with resistance at $94,000 on the hourly chart of the BTC/USD pair.$BTC