Within the last hour Bitcoin price dropped below $4,000 after abruptly plummeting 11.24% to a new yearly low at $3,782. The sharp downside move seems short lived as the price quickly rebounded to $5,260. {chart} On the 1-hour timeframe traders will notice that a strong oversold bounce took place after the relative strength index dipped to 8.45, a low not seen since November 23, 2018. For the time being, traders will closely watch to see if the current oversold bounce leads to a more sustained uptick in purchasing volume and some have taken to crypto-Twitter with speculations that the drop below $4,000 may have ... (full story)