Bitcoin – Bears Show Their Teeth to Round off a Rainy November

Hopes of a sustained bounce back going into December were dashed on Friday, with Bitcoin sliding by 6.56%, off the back of 3 consecutive days of gains, to end the day at $4,039.5.

A relatively range bound start to the day saw Bitcoin rise to a mid-morning intraday high $4,368.8, coming up well short of the first major resistance level at $4,482.67 before hitting reverse alongside the broader cryptomarket.

Sliding through the late morning, Bitcoin fell through the first major support level at $4,161.87 and second major support level at $4,004.13 to an intraday low $3,950 before find support, sub-$4,000 support levels proving to be key through the rest of the day.

In spite of managing to move back through to $4,000 levels the damage was done, with investors being given a quick reminder of the bearish cryptomarket environment that has continued to plague the market through the year, Bitcoin’s current extended bearish trend having kicked in at a swing hi $9,999 struck back in the…