FX.co ★ BTC analysis for 05.05.2020 - Potential for the downside movement on the BTC towrads the level at $7.820

News:

Speaking at the annual Berkshire Hathaway shareholders meeting, Buffett said that $137 billion is not a large cash pile if bad things start to pile up in the market. Berkshire has major stakes in leading conglomerates like Coca Cola and Kraft Heinz. If the market begins to go in the opposite direction than analysts anticipate, the cash pile can be used to assist Berkshire's portfolio companies.

Bitcoin is at a point where it faces strong overhead resistance in the $9,500 to $9,900 range and the U.S. equities market is still rattled by the economic consequences of the coronavirus pandemic.

Technical analysis: