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Bitcoin Technical Analysis: BTC Falls While Stocks Rally Again (May 2020)
Bitcoin crashed below a key support yesterday but there was no follow through. So, the price ended up climbing back above the support and flipped bullish. Even though it is now showing signs of strength, there is a good chance that it is all temporary and we might be headed lower after a near term retest of the trend line support turned resistance. In the most optimistic scenario, we could expect a rally towards $9.5k now that the S&P 500 (SPX) has also started the day in green and has shot past the psychological resistance of 3,000.
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