As said in last chart bitcoin went more down after forming an hidden bearish divergence.
After finding support at 4.4k bitcoin quickly went to 5k levels. Keep an eye on the volume. If we push in the cloud we might test 6k resistance. If retest fails we will fall below 4k this time testing 3.5k
Im in doubt if we will go above 6k. Due to the corona pandemic and the uncertain times. Safe havens like gold are even seeing a beating. People are thinking short term because of panic and cash is the new way to go.
So
If enough volume
Retest 6k
If fail
Testing 4k support.
Be safe.
After finding support at 4.4k bitcoin quickly went to 5k levels. Keep an eye on the volume. If we push in the cloud we might test 6k resistance. If retest fails we will fall below 4k this time testing 3.5k
Im in doubt if we will go above 6k. Due to the corona pandemic and the uncertain times. Safe havens like gold are even seeing a beating. People are thinking short term because of panic and cash is the new way to go.
So
If enough volume
Retest 6k
If fail
Testing 4k support.
Be safe.