Corona virus news:
Leading blockchain intelligence firm Chainalysis has found that the COVID-19 pandemic and global economic contraction is affecting Bitcoin (BTC) consumer habits in surprising ways.In a new report published on March 30, Chainalysis details how Bitcoin spending trends in three areas — merchant services, gambling and darknet marketplaces — have changed, or even reversed.
Technical analysis:
BTC has been trading upwards.The price tested the level of $6.690. Anyway, the main pivot is set at the price of $6.960 and you should watch for the price action around it.
The successful rejection of the resistance at $6.960 would confirm downside and potential testing of $5.800 and $4.476
The eventual breakout of the resistance $6.960 can lead us for test of $7.623.
Stochastic oscillator is showing overbought condition, which increases the risk for the further upside...
Resistance levels is set at the price $6.960
Support levels and downward targets are set at the price of $5.810 and $4.476.
