The bitcoin price on Thursday plunged to trade at a new weekly low of about $26,400 before recovering later to settle at $26,757. The price of the pioneer cryptocurrency appears to be trading within a sharply descending channel formation in the 60-min chart. The BTC/USD has now plummeted to trade several levels below the 100-hour moving average line. However, Thursday’s late rebound helped the bitcoin price to recover from the oversold levels of the 14-hour RSI, back to the normal trading zone. From a fundamental perspective, the price of the pioneer cryptocurrency continues to be affected by the crypto winter. ... (full story)