The price of Bitcoin $BTCUSD has been consolidating after coming down to $3200 in December 2018. Over a month later, price action still shows bearish bias and is knocking at a key support around $3460. BTC/USD Daily Chart(click to enlarge)Consolidation with Bearish Bias: The market was bearish entering December, but eventually flattened.However, there is still bearish bias as price still trades under the 200-, 100-, and even the 50-day simple moving averages (SMAs).The RSI has been holding below 60, which reflects maintenance of the prevailing bearish momentum. Key Support: As we can see on the daily chart, there is a common support pivot at the $3460 area. I think if price can hold below $3450 for 24 hours, the market might retest the $3200 low with a good possibility of extending to $3000 before finding significant support again. But If price pushes above $3750 and stays above for more than 24 hours, then I think we can see BTC/USD pushing up to $4100 with $4420 as the next resistance above that. In general, I believe the market will remain choppy but with bearish bias in the next couple of months.From CoinPowR