Saturday, February 29, 2020

Bitcoin: BTC Fills CME Gap But Risks Loom Over (February 2020)

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Bitcoin: BTC Fills CME Gap But Risks Loom Over (February 2020)

The Dow Jones Industrial average just had the biggest single day decline in history. The stock market is in shock at the moment and investors are petrified. The price of Bitcoin declined today and the CME Futures gap was filled but many risks still loom over. The 12H chart for BTC/USD shows that there is not enough momentum for the price to rally. The most probable scenario is further downside from here after some sideways movement for a while. The market is waiting on what the S&P 500 (SPX) would do on its last trading day of the month. If it closes the week below the 50 EMA, it is going to be brutal for Bitcoin and the rest of the crypto market.


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