The bitcoin price dropped as far as $3,801 on Monday after an attempted breakout failed to thrust the flagship cryptocurrency back across the $4,500 level.
CCN technical analyst Yashu Gola reported yesterday that BTC/USD was flirting with a breakout but stressed that a price floor would not be confirmed until the index experienced a sustained consolidation period above $4,500.
Unfortunately, that bounce did not occur, and this afternoon the bitcoin price fell below $4,000, which triggered further selling all the way down to $3,801 on Coinbase — its lowest point since Nov. 28. As of the time of writing, BTC/USD was holding at $3,825.
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Featured Image from Shutterstock. Charts from TradingView.