The price of Bitcoin, “marking” the line of resistance of $ 6,000. It seems that cryptocurrency will overcome this mark the end of the week. Now the bulls are trying to buy each more or less noticeable pullback BTC, keeping the asset within the boundaries of the upward channel. Overall, the market situation indicates a complete dominance of buyers.

From the point of view of fundamental analysis to sell the cryptocurrency is still early — ahead of us waiting for the next Consensus conference, after which Bitcoin will likely rise by a few tens of percent. At the moment BTC is trading at 5938 dollars. For the past day, the price of a coin rose 4.3 percent.

Bullrun starts

The number of short positions on the pair EUR/USD reached its annual maximum. The last time so many shorts we saw in January. If in near future there will be a sudden increase in trading volume and Bitcoin still move above $ 6000, most of the short positions liquidate exchange, which will serve as another impetus to growth.

Source: TradingView.com

Scale 1-hour chart clearly visible pattern “inverted head and shoulders”. Recall that in 2019 he met on the Bitcoin chart more than once and has always been a prerequisite to the appreciation of the asset.

The price of cryptocurrency almost came close to the level of $ 6,000. Perhaps it will be quite difficult to break the first time. A few months ago this line for quite a long time and kept Bitcoin from the new drain.

Source: TradingView.com

Scale 1-weekly chart a moving average 12 EMA crossed below the 26 EMA and moved higher. This is the first intersection since the beginning bullrun 2017. RSI is also for the first time in almost a year moved into the bullish zone. Here you can also notice the emerging global uptrend.

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