On Feb 14, 2020, Bitcoin closed near the $10,500 level. Then in the following weeks until early March, the price went as low as $3,600.
As of May 20, 2020, Bitcoin is nearing its resistance level again at $10,500 and it may be a wise move to hold or take a few profits as of this time, and probably buy it back in the 8,800 level as a pending order.
Fundamentally, Bitcoin looks to remain stable in the middle of the COVID 19 Pandemic as the demand for cryptocurrency in several countries is growing.
According to most reports, the volume on centralized cryptocurrency exchanges has skyrocketed this May 2020, and this is good news if you're here to invest in Bitcoin for the long haul.
Lollipop Money Technical Analysis on Bitcoin
$ 12,000 Level - 30% (Breakout Target)
$ 8,890 Level - 50% (Correction Level)
$ 7,280 Level or Lower - 20% (Breakdown)
Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine "risk" funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No "safe" trading system has ever been devised, and no one can guarantee profits or freedom from loss. Past performance is not indicative of future results.