Bitcoin trades below $40,000 first time since December 3

The price of Bitcoin is trading to a new session low, and in the process, the price is breaking below the $40,000 level for the first time since December 4. The price is also falling below it 38.2% retracement of the move up from the September 12 low to the January 11 high. The level comes in at $39,867. Staying below those levels keeps the sellers more control from a technical perspective. The next key target comes against the 50% at $37,030.