Bitcoin: Do bulls have power to conquer $6,000 this week?

Usually the crypto market ’’relax’’ at weekends, however, the previous week was the exception from the rule. On Saturday, the BTC’s rate could rise above $5,800, however, then a fast correction happened to the $5,600-$5,700 zone, as we predicted few days ago.

Taking into consideration the current situation, new support and resistance levels have been settled at $5,500 and $5,800 respectively. On the other hand, the number of total shorts prevail over longs analyzing data on BitMEX and Bitfinex.

Although the price of BTC showed good growth at weekends, no further decline is foreseen. Such a scenario is backed by the RSI indicator which is not overbought. Moreover, one can even expect a rise to the psychological mark at $6,000. Such a prediction is possible till the end of the current week.