Bitcoin Price Watch: BTC/USD Nosedives 15%, $4,000 Next?

Key PointsBitcoin price fell significantly and declined below the $5,000 and $4,600 supports against the US Dollar.
There are two bearish trend lines formed with resistance near $4,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The price is likely to accelerate losses towards the $4,200 and $4,000 levels in the near term.Bitcoin price traded to multi month low below $4,500 against the US Dollar. BTC/USD could continue to decline towards the $4,000 support area.
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