Looking at the chart, we can see that in April the support was formed on the way to $6,500. Earlier, in late March, this level acted as resistance. Now, we see increasing of buying when the bitcoin dips below this level, with the upper boundary near $7,500.
Now all market participants are witnessing the development of the epidemic situation and the reaction of central banks. Institutional investors are now quite a severe force of influence on the crypto market; these events will have an impact on digital currencies.
The FxPro Analyst Team