- Bitcoin continues to tumble, creating a fresh 2018 low at $3,368.
- The technical indicators continue to suggest that BTC price has room to head lower.
- Support moving forward: $3,405, $3,263, $3,154, $3,083, $3,000, $2,885, $2,482, $2,356.
- Resistance moving forward: $3,600, $3,701, $3,906, $4,000, $4,100.
The troubles continue for the Bitcoin market (and the rest of the cryptocurrency market) as BTC/USD plunges further today to reach a fresh yearly low at $3,368 (on Bitfinex).
The fall comes after a month of continuously decreasing prices as the market dropped beneath the long-lived support handle at $6,000 in mid-November 2018. Price action continued to drop further as the month progressed but managed to show some refuge around the $3,700 – $3,600 area toward the end of the month.
However, this all changed when Bitcoin continued to tumble, creating brand new yearly lows during this morning’s (December 7) trading session.
The drop has been largely attributed to the SEC,…