Bitcoin continued its slide last weekend, falling well below the important $20,000 mark. At times, the oldest cryptocurrency cost only $17,600, which is about 14 percent less than on Friday and the lowest in 18 months. Compared to November, when the Bitcoin price was $68,000, the value has fallen more than 60 percent since the beginning of the year.

In fact, the Bitcoin price could still fall about 21 percent lower than the last low of around $17,600 to correct to around $14,000. Should Bitcoin nevertheless rise in the short term now, the 200-week EMA is also waiting for the BTC price at the Golden Ratio at around USD 27,000, which also acts as resistance.