Bitcoin slips below $60,000 for the first time in over two weeks

Author: Justin Low | Category: Cryptocurrency

Bitcoin dips below $60,000, first time since 1 November

Cryptos aren't enjoying a good start to the week as we're seeing a further retreat in prices from the recent highs. Of note, Bitcoin fell by over 8% to under $60,000 at the lows (the low today hit $58,644) before sticking around $59,500 to $59,800 at the moment.

The $60,000 mark will be one to watch going into the daily close as it holds a psychological importance but the 27-28 October lows around $58,000 will also be regarded as key technical support at the moment on the charts.

A break below that will likely exacerbate downside sentiment in Bitcoin and sellers could look to push the agenda back towards the 100-day moving average (red line) next.
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