Hi there. As you can see, price was forming a big reversal pattern since 2015. COVID-19 simply accelerated the sharp breakdown, but it was very clear that with or without the COVID-19 price had to drop very impulsively.
Note
Before: Reversal pattern on lower time frame Note
AFTER: 
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.