High volatility this weekend but the price continued its downtrend.
Current support/resistance: $8'200/$8'700
This weekend the price crossed the 20 days moving average a couple of times, oscillating from $8'800 to $8'400. The MACD divergence stopped but we are still in the red. Since mid-February the crypto-space lost 50 billions of dollars in total market cap, leading to 250 billions. If investors continue to take their money out of cryptocurrencies, it will be hard to have enough buying pressure to push the Bitcoin price back to 5 digits.
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