Price trading above and below $5000 over the last few hours
The price of Bitcoin on the Coinbase exchange reached a low of $4863 on the last hourly bar. The current price is at around $4957.
The price has traded the last 5 hours above and below the $5000 level. Staying below will be a bearish milestone for the digital currency. The price traded as high as $5560 today. The price today is down 10.8%. Since November 7th, the price has moved from a high of $6540. That is a 24% fall. That is a healthy decline in a short period of time.
Looking at the daily chart, the $4583 is a trend line that has a number of points on the line. ON more downside, pay attention to that level. There could be some buyers who lean against the level in hopes of stalling the fall.
In contrast, if broken, there could be another run lower.
It is not a good day or month for Bitcoin
PS Bitcoin on Coinbase closed 2017 at $14067. At the current price that represents a -65% fall.
