BTC analysis for 04.20.2020 - The drop has started as I expected. The downward target is set at the price of $6.500.

Corona virus summary:
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Technical analysis:
BTC has been trading downwards as I expected. The price did break of the important support at $6,970 and confirmed further downside movement. My analysis from Friday is still active and the downside targets are set at the price of $6,555 and $6,460.


Trading recommendation:
Watch for selling opportunities on the rallies with the downward targets at the price of $6,555 and $6,460.

MACD oscillator is still showing negative reading on the 1H time-frame with the slow line slopping to the downside, which is sign that down cycle is active...

Resistance levels are set at the price of $7,200

Support levels and downward targets set at the price of $6,555 and $6,460.




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Performed by Petar Jacimovic
Analytical expert
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