Cryptocurrency
Trading Bitcoin: Will Bitcoin Crash Again With Oil?
Daily Bitcoin is in the middle of a price flip to a red 1. After being rejected at $7.3k, Bitcoin is down -1.15% today. Meanwhile, the $SPX is down -1%. However, the most prominent story of the day is USOIL, down -40% at the time of writing. USOIL crashed -30% on March 9th and less […]
Daily
Bitcoin is in the middle of a price flip to a red 1. After being rejected at $7.3k, Bitcoin is down -1.15% today. Meanwhile, the $SPX is down -1%. However, the most prominent story of the day is USOIL, down -40% at the time of writing. USOIL crashed -30% on March 9th and less than a day afterward, Bitcoin fell over -40% in one day.
From a technical perspective, Bitcoin is still in a bullish ascending triangle formation. However, if price breaks below the upward sloping trend line, bearish price action is likely to take over for the interim. 
USOIL
As you can see from the chart above, USOIL has been devastated by the recent price action.
Bitcoin 4 Hour
Bitcoin has recently rebounded from the sequential setup trend line (green dotted line). The upward sloping trend line is still acting as critical support for the bullish case.
Conclusion
From a technical perspective, Bitcoin is still in a bullish ascending triangle formation. However, if price breaks below the upward sloping trend line, bearish price action is likely to take over for the interim.