Bitcoin’s price is facing a new rejection below $17,000, which has sparked speculation about a sharp downtrend below key support. Bitcoin price is difficult to break through the $17,000 resistance level, forcing the price to form a double top pattern. As a result, resistance surf

2025/08/2822:02:35 hotcomm 1403

emphasizes that

Bitcoin price faces new rejection below $17,000, which has sparked speculation about a sharp downward trend below key support
bulls seem to be ready to keep the price above the lower support level, but may be out soon, dragging down the price downward

Since the popular exchange FTX crashed and caused a chain reaction, the crypto market has become extremely volatile and uncertain. Meanwhile, Bitcoin and popular altcoins are trying to start from the recovery phase, but shorts realize that despite a slight rebound, their dominance continues to grow.

So, the bearish cloud continues to hang above the Bitcoin (BTC) price, which could drag the price back below $16,000 in a few net hours!

This is why Bitcoin (BTC) price may resume downward trend!

Bitcoin price is difficult to break through the resistance level of $17,000, forcing the price to form an double top pattern. As a result, the resistance surfaced and the current price has fallen to around $16,400 and may soon fall below $16,000.

BTC Price rose from the mostly considered bearish rising wedge and went toward a lower support level of nearly $16,300. Meanwhile, if a flip occurs above these levels, the bulls may re-dominate and raise the price above $16,500, which seems unlikely at the moment.

However, more bearish sentiment and pressure may push prices down, and bulls may not be able to hold on to the critical $16,000 to hit levels around $15,850.

Where will Bitcoin form the bottom?

Bitcoin price began to fall from its high point in 2022 and has remained at a certain level of rejection. According to one popular analyst Moustache, BTC prices have been rejected on multiple Mayer lines. So, after the recent rejection, it turns out that the price may continue to dive southward, testing lower support levels.

Therefore, analysts believe that Bitcoin (BTC) price may continue to fall sharply and recover to the lower levels in the current support area. Meanwhile, bulls may also struggle to keep prices, but buying may not be able to make up if extreme bearish pressure increases, which could push prices lower over the next 12 to 16 hours.

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