Bitcoin (BTC) lost $ 23,000 in support on December 21 as trading began to take shape on a much-anticipated correction on Monday.

BTC price hits $ 22,600

Data from CoinTelegraph Markets and TradingView showed that BTC / USD hit lows of $ 22,410 during the press, with 24-hour losses totaling nearly 4%.

BTC / USD Hourly Chart (Bitstamp). Source: TradingView

The movement confirms suspicions among analysts that Bitcoin is due for a retracement after a week of near constant gains. Traders are now looking at $ 20,000 which hurts order book data as a potentially formidable level of support.

Early last week, the largest cryptocurrency was still below $ 19,500, a level that Cointelegraph Markets analyst Michaƫl van de Poppe the view may now constitute a short-term price target.