First one is MA200 at ~8000 USD. In 2018 when we dropped below it, we stayed there for about a year.
Next one is the border of triangle at about 9500 USD. Only if we break this up, I would assume that we are safe.
We are not out of crisis yet, and I think this is just a beginning. There is terrifying correlation between stock indexes and BTC. There are some advantages for BTC: 'digital gold', more need for crypto when most borders are closed, unstable national currencies etc. But actually we have never seen how bitcoin behaves in the times of crisis.
I think, drop is more possible for now.
Next one is the border of triangle at about 9500 USD. Only if we break this up, I would assume that we are safe.
We are not out of crisis yet, and I think this is just a beginning. There is terrifying correlation between stock indexes and BTC. There are some advantages for BTC: 'digital gold', more need for crypto when most borders are closed, unstable national currencies etc. But actually we have never seen how bitcoin behaves in the times of crisis.
I think, drop is more possible for now.
Comment:
MA200 broke up. Let's see if global downtrend line holds