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Bitcoin Price Rejects $6.9K, But Is a Correction Now Imminent?

Published 03/28/2020, 09:50 AM
Updated 03/29/2020, 02:00 AM
Bitcoin Price Rejects $6.9K, But Is a Correction Now Imminent?

The price of Bitcoin (BTC) has shown a strong surge in the past weeks, as the price rallied from $3,750 to $6,900. However, the crucial $6,900 level wasn’t broken to the upside and confirmed as resistance. A similar move occurred on the equity markets, as the United States’ equity markets surged 25% in one week, but saw a sharp selloff of 4% in the last trading hour, going into the weekend.

These movements lead to the general question: is there more blood to come for Bitcoin and crypto?

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Given that the price of Bitcoin is showing a bearish outlook — while still having a positive correlation to the equity markets — further downwards 
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