Bitcoin Technical Analysis: Why BTC Has Not Bottomed Yet (March 2020)

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Bitcoin Technical Analysis: Why BTC Has Not Bottomed Yet (March 2020)

The price of Bitcoin is primed for the next big decline, but this is not just about Bitcoin. The US has just surpassed China in the highest number of confirmed Coronavirus cases. This is an important development and it means that we may now be looking at the beginning of another downtrend in the S&P 500 (SPX) which could once again put financial markets under pressure. The 4H chart for BTC/USD shows that the cryptocurrency market has plenty of room to decline. In fact, at this point it would not be surprising to see it decline even below $3k near-term.

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