Bitcoin Price Watch: BTC/USD Made Sharp U-Turn

Key PointsBitcoin price failed to capitalize above $8,800 level and declined sharply against the US Dollar.
BTC/USD broke this week’s ascending channel with support at $8,500 on the hourly chart (data feed from Kraken).
The pair settled below a key support at $8,400 and the 100 hourly simple moving average.Bitcoin price made a sharp U-turn from $8,800 against the US Dollar. BTC/USD is now trading well below $8,500 with a few bearish signs.
Bitcoin Price Analysis
The past two days were most