December 9, 2022

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Bitcoin falls to a fresh five-day low in third day of declines

1 min read

Bitcoin continues to chew into Sunday’s gain

Bitcoin continues to chew into Sunday's gain

Bitcoin edged below the earlier lows in a fall to $36,780, down about $1000 on the day or 2.5%.

It’s the third day of selling after a failure to climb above $41,000 mid-week.

The big move that started with Musk tweeting about bitcoin on Sunday has now largely faded and the latest dip breaks the 61.8% retracement of the rally since June 13.

There is some support just above $36,000 but I don’t see much standing in the way of $35,000 once again.

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