Bitcoin shot down today under 9 000$

Bitcoin shot down today under 9 000$

In the last trading article, we looked at 5 failed attempts to surpass 10 000$ and today we have fallen below 9 000$

Possible reasons:

World and News

  1. The corona virus affects the whole world also we can see effect on all markets(stocks/fx/cryptocurrency)
  2. An innocent statement from Monday interview with one of the most succesful investors- Warren Buffet’s that cryptocurrencies have no value

Technical analysis

  • Multiple rejection at the price of 10 000$
  • We lost today another key level of 9 500$
  • CME gap
  • Historically, the strong horizontal area around 9 000$
  • 200 day moving average at 8 789$
  • 50% Fibonacci retracement level
  • The 20 and 50 week moving average at 8 500$


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