BTC, October 2019 pump in reverse

10 Nis 2020

If we look at the daily chart for Bitcoin, we can see the big drop on March 12/13. This dump is really similar in market structure to the October 2019 pump, when President Xi mentioned blockchain and Bitcoin shot up. If we go by how the price retraced in October after the pump, we can see similar pattern occurring right now but its inverse.

Short Term - Bullish
Medium Term - Neutral
Long Term - Bullish