BTCUSD Bitcoin

Bitcoin endured its worst daily candle since September with a dramatic $1,000 sell-off within the space of 24-hours. It is now trading below the $9,600 level of support-turned-resistance after dwindling all the way down to $9,350. A breakdown in price from $9,350 will see a re-test of the 200 daily moving average, which is currently in confluence with the $8,830 level of support. Bitcoin is now trading 9% lower than it was this time last week when it tested the $10,500 level as anticipation began to build around May’s halving event. In May Bitcoin will undergo its third block reward halving in its history. This has historically caused a significant rally in the price of cryptocurrencies as supply dries up

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