In these strange times, we saw some strong correlation with traditional assets. However these last days the Bitcoin price held well but finally broke the $6'000 support this Sunday. No signs of strong recovery are on the horizon.
Current support/resistance: $5'500/$6'000
The last weeks, financial markets were deeply linked with the current situation of the Cov19 and the response from the different countries affected. As the situation seems to worsen in the United states further drop is expected in the short term. The level around $5'500 is crucial to avoid a drop down to $4'000.
The price is still below the 20 days moving average and would need to break a few resistance to reach it. The only bullish signal is coming form the MACD which is currently diverging in the green from the signal line.
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