BITCOIN (XBT / USD - BitMex )- a WEAKLYYY Growth
BITCOIN (XBT / USD - BitMex )- a WEAKLYYY Growth

By milionarioo | DigiNomic | 6 Apr 2020


On the intra-day, the last 4h candle officially closed on a higher high. However, this rise still does not convince me 100%, for various reasons.
First of all, due to the volumes, which do not show follow-up on the higher-high. The two candles in question show above average volumes, but it is not enough. A sequel is needed, showing that the bulls are buying, and they are determined to leave resistance 6.9 behind.

The second doubt concerns the spike that recently led to test the 7300 level, which resolved with a Failure Swing but in the meantime has made a clean sweep of liquidity. Therefore there will be no big "stops" until the breakthrough of that level. From there it would be a moment to arrive, due to the stop hunt, at 7600, and we would be faced with the next dilemma: will that test be absorbed, or will we break the 7.6? The answer will be very significant!

Finally, the higher highs are very close to each other, which indicates little strength in movement. It almost looks like a rising wedge.

The situation therefore remains doubtful, and what will solve it will be the retest from the top of the 6.9 (if they give up it will confirm the false movement, if they trigger demand instead it will confirm the bullish scenario) or the appearance of purchase volumes that lead to breaking the 7.3, which will lead us to the crossroads described earlier.

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