FX.co ★ BTC analysis for 01.28.2020 - Median line reached, possible rotation around it and even short-term decline

Industry news:

The Japanese Economy Minister Yasutoshi Nishimura recently stated that the coronavirus outbreak is causing serious threats to the global economy. On a local level, he said that he's concerned a lot, especially when it comes to tourism. Chinese tourists account for 30% of the people who visit Japan for that purpose. As such, transportation hurdles, as well as cancellations are among the minister's prime concerns. If China's affected cities remain closed, Nishimura fears that it will have more

Technical analysis:

BTC reached Pitchfork median line at the price of $9.400. This is sign that we might have short term topping activity and potential rejection. Usually, after the price reach Pitchfork median line we can form few pivots around it.

Stochastic oscillator is showing overbought condition, which may cause short-term decline on BTC and potential test of $8.910 or $8.700.