Technical Analysis BTC / USD Bitcoin on Monday before the big test
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Today we will look again at Bitcoin, the last days are marked by big drops and they can still continue.
[BTC / USD] In 2020 to present value: -25.6%
On Monday, the markets will reopen and trade will begin, and we expect significant movement. Currently, Bitcoin is at $ 5,300 and the price has stabilized just over $ 5,000 this weekend. On Friday, however, we saw movements just below $ 4,000. The situation is really bad, as the world markets and Bitcoin are in the bear market.
We see the closest significant support at $ 4,000, and we count with a weaker $ 5,000 value. In 3 days, we erased nearly $ 3,500. Since 2017, we have not seen such a large slump in terms of capitalization slump. Halving on Bitcoin totally fell silent in the light of the collapse of world markets and coronavirus. No wonder, people are not investing in the first place, but rather count on a possible recession of states or the whole world.
Entrepreneurs calculate sales losses and many go bankrupt if the situation does not quickly come under control. They slowly gettin it under control in China, so chinese traders could help. We also have health that many are rightly worried about. All these things, not only economic or health, will adversely affect future investments, whether in the world markets or in Bitcoin, therefore, we do not expect huge growth in Bitcoin in the near future. Rather, we could prepare for the next downturn, at best, moving sideways in the coming weeks.
