From the chart, the 61.8% fibonacci level on the downtrend has been acting as the major resistant for bitcoin for the entire year so far. The next 61.8% fibonacci level will be at 6910 which is just around the current downtrend trendline, breaking this resistant could signal a major uptrend move. Currently strong support at 6000 USD so watch out for the entry...
Daily candle printed an inverse hammer which is a bullish candle. Could be the start of a reversal back up, to test the upper overall trend line.
Bitcoin has shown some strength in the recent days, but it also has no reason to go up, except for a Short Squeeze. Why wouldn't I call it a reversal yet? Cuz we still need to cross previous resistances (as high as 10k) to say we're in bullish territories. Also, the strength if the green candles is quickly sizzling off, and the bears are probably just resting for...