Bitcoin (BTC) is in a free fall, breaking below the psychological $60,000 support on Aug. 4. Bitcoin came under intense selling pressure this week as traders reduced risk following the roughly 6% plunge in the Japanese stock market, Nikkei, on Aug. 2. The weaker than expected July jobs report on Aug. 2 did not help matters and the Nasdaq Composite fell into the correction territory, down more than 10% from its record high. Even after the recent fall, Bitcoin remains stuck inside a large range. Although it is difficult to predict the direction of the breakout from a range, Bitcoin whales remain…