Bitcoin price extended its decline and traded below the $3,440 support level against the US Dollar.
There is a major bearish trend line formed with resistance at $3,460 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is currently under a lot of pressure and it may slide further towards $3,200 or $3,000.
Bitcoin price accelerated losses below the $3,500 support against the US Dollar. BTC bears are in full control and it seems like they are eyeing a test of the $3,000 level.