Analyst: Short-Term Correction Expected if Bitcoin Drops Below $3,600

Following a week of slow but steady gains Bitcoin fell off the digital cliff again yesterday with a flash crash that wiped out all progress made so far this year. Analysts are now looking at a short term correction if BTC can hold on to where it has currently fallen.Further Downside Expected on ConsolidationIn an epic dump that wiped out $8 billion in 60 minutes crypto markets are back near $120 billion market capitalization again. Bitcoin led the fall when it failed to break resistance at $4,050 twice yesterday. The first plunge dumped BTC to $3,850, which it held for 8 hours before a second swift purge send it tumbling to $3,670. The net result was almost 10% lost in under 24 hours.Prominent analyst Alex Krüger has highlighted $3,600 as a key level stating that consolidation below this price would likely lead to further downsides;What a majestic dump. $BTC back…

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