Bitcoin Price Analysis: Buckle up Bulls, More Losses Lie Ahead

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The bitcoin price on Monday depreciated as much as 4.74 percent against the US dollar after breaking out of its two-week long consolidation period. At 20:00 UTC on Coinbase, BTC/USD was trading at $3,415, down 3.31 percent from today’s opening rate. The pair confirmed a downside break of its near-term bearish pennant formation. As it did, it also broke below a crucial support level at $3,460, which had capped a strong downside action on November 25, 2018. Bitcoin’s Technical Outlook Remains Weak Technically, the breaking of a bear pennant formation to the downside signals an extended selling action. It eventually

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