Bitcoin hit a new all-time high of $93,265 on Wednesday.  Since then, Bitcoin price has been consolidating and hovering above the $87,000 support level.  At the time of writing, the price of Bitcoin is in the range of $91,200.

 If the price of Bitcoin falls below the support level of $87,000, the downward trend is likely to continue and it will also fall to the level of $85,000.  If the BTC price candle closes below this level, the decline may continue to the level of $78,800.

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