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Quick take:

The 2020 Easter weekend will probably be remembered for the innovation of going totally virtual with activities such as Church services, family get-togethers as well as virtual Egg hunts. With the world on high alert due to COVID19, Social distancing has proven itself as being the most effective method of curbing the spread of the virus. With relation to crypto trading, the Bitcoin (BTC) trade volume has seen the usual drop during a major holiday weekend. Such drops are also witnessed during Christmas and New Years. The 7-day Bitcoin trade volume chart below courtesy of Bitcoinity.org further gives a better representation of the drop this weekend.

In our earlier analysis of XTZ/USD, we had stated that Bitcoin looks set to retest previous support zones at $6,600, $6,500, $6,200, $6,050 and possibly $5,800. These levels have been providing reliable support for Bitcoin since the Coronavirus crash of mid-March.

Further checking our favorite 6-hour BTC/USDT chart, we observe the following:

When we zoom out to the daily chart, we observe a totally different bearish picture.

With Bitcoins weekly close only a few hours away, $6,600 is the level to watch as it provides a level of solid support. BTCs trade volume has drastically reduced due to the Easter weekend and could provide the final ingredient for a bearish scenario for the King of Crypto. As with all technical analysis, the reader is advised to use stop losses to safeguard their leveraged positions against sudden volatility.

Disclaimer:This article is not meant to give financial advice. Any additional opinion herein is purely the authors and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

More:
Why $6,600 is the Level To Watch During Bitcoins (BTC) Weekly Close - Ethereum World News