Bitcoin (BTC) Price Diving, Gates To $7,400 Now Wide Open

Bitcoin price is diving and it recently broke the $8,000 support area against the US Dollar.
The price is under a lot of pressure and recently traded to a new monthly low at $7,828.
Morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The next key target for the bears could be $7,400 (as discussed in the recent medium term outlook).Bitcoin price is gaining bearish momentum below $8,000 against the US Dollar.