Bitcoin Technical Analysis: Can BTC Fall Down To Zero?! (April 2020)

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Bitcoin Technical Analysis: Can BTC Fall Down To Zero?! (April 2020)

The stock market seems to be playing out exactly as we predicted. The S&P 500 (SPX) seems all set to test the 61.8% fib retracement level once again. This would lead to similar near-term bullishness in the cryptocurrency market. We expect BTC/USD to climb past $8k to test $8.4k-$9k before the next major decline. This would end up filling the CME futures gap and then Bitcoin could enter a prolonged bear trend. This might also be one of the most brutal bull traps in Bitcoin history just around halving which gives the market makers and whales the perfect opportunity to prey on overly enthusiastic retail traders.

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