Despite the bullish momentum, the global market is still bearish

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
The resulting bullish momentum can maintain a positive attitude in the market, indicators of average timeframes look optimistic, the chances of continued growth are present. We received local resistance around the level of 3600, the breakdown of which will form the movement towards the test mark of 3800 and possibly into the region of about 4000, there are few chances to break through, the market is still weak and the volumes are not sufficient for moving up. Such an impulse, as a rule, needs correction, but now we can roll back, we meet support closer to the level of 3400. Of course, if we manage to break through above 3,600, then after the growth we will likely go down, possibly closer to 3200, and then we can touch up to 3000. Globally, the trend remains bearish , capitalization is likely to step below 100 and the higher we rise now the more chances for a successful short.
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The marked local resistance was punched very confidently, of course, further correction is appropriate, as a result of which an inverted head and shoulders can form. The making of this pattern will enable the market to break into the range of dense resistance, it may be possible to approach its upper limit and touch Fib 2.618 (about 4117).
Well, we all know that, but there's a start with everything.
yeah, one 2 minute spike and everyone calling moon shot again....
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if you check RSI indicator on weekly time frame you will see , after more than 3 years rsi is below 30 on BTC, or if you insert EMA 300 on weekly chart , you will see all time that price touched ema , it changed market to bullish and now again we are in EMA 300 .
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rlreecer CyrusTrader
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