Newsflash: Bitcoin Price Drops to $3,801 as Breakout Attempt Fails

Journalist:
December 3, 2018

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.

BTC/USD | Coinbase

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.

Stay tuned for detailed bitcoin price analysis, and click here to track the real-time BTC/USD exchange rate.

Featured Image from Shutterstock. Charts from TradingView.

Last modified (UTC): December 3, 2018 16:46

Tags: Bitcoin
Josiah Wilmoth @Y3llowb1ackbird

Josiah is the US Editor at CCN, where he focuses on financial markets. He has written over 2,000 articles since joining CCN in 2014. His work has also been featured on ZeroHedge, Yahoo Finance, and Investing.com. He lives in rural Virginia. Follow him on Twitter @y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.