Bitcoin Price Consolidation Below $73,500 Support

Bitcoin's recent price movement has been characterized by a decline from the $78,400 zone, with the cryptocurrency consolidating below the $73,500 support level.

The hourly chart of the BTC/USD pair shows a connecting bearish trend line forming with resistance at $75,600. If Bitcoin fails to stay above $75,500 and $76,000 levels, it may extend losses.

On the other hand, if the price remains stable above $73,500, it could attempt a fresh increase, with immediate resistance near the $74,750 level and major supports at $73,500 and $72,500.