The last price drop of the Bitcoin price is very reasonable. As many people have said that it's because of coronavirus pandemic.
The thing is we don't know until when this pandemic will last and the more it takes time, the more people will cash out their assets because they will need more cash.
And what I can conclude so far is people who are struggling with having cash currently will lose their opportunity if the bitcoin price will increase after this pandemic is over because they won't have much money to buyback bitcoin.
So I think it's still not good if you invest your money in Bitcoin even more than 20% right now. Don't gamble on this unclear situation yet and buy Bitcoin when the situation (coronavirus pandemic) is clearly getting better.
But this is pure based on fundamental analysis, not technical.
The people who won't be able to afford living expenses during the lockdown and thus would have to cash out in order to get their hands on some cash are only the minority investors. This would mean that the overall effect of these sales won't be adding much to how the market will behave as the major investors will buy in as a result of anticipated price rise due to the halving event instead of selling.
The underling message here is once again resonates to this: people shouldn't invest if they can't afford losing their investment since by investing you pledge to the unpredictable risk of loss.