Looks like a freak out to me. Not logical, sentiment and fear driven. COVID fears (yet again) and during a time the markets are showing weakness, and there's the flash reaction.
Might as well flip a coin. My bet is $53-55k range holds with that 100 day MA. If it doesn't, 48K and even $41 or $38 could be something. I doubt it, but... It's crypto.
Buy, sell, or buckle up because here... We.... Go!
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.