Will BTC break $6000?
Not yet, in my opinion. I do think, however, that we are entering a new channel between $6000 and $5700. We closed above the previous resistance at 5700. Kumo Cloud shows strong support (flat line) at the 5700 level, but we can see our lagging strand (light green line) colliding with prices, which is a signal for consolidation. Also, look at the most recent candlestick developing: also signalling a support at 5700.
If you're thinking about buying in, the 5700 level is as good as any and if you're trading in a short time window you'll have the opportunity to make some ~$300 variable trades as the 6000 resistance is tested in the new channel.
If you're thinking about buying in, the 5700 level is as good as any and if you're trading in a short time window you'll have the opportunity to make some ~$300 variable trades as the 6000 resistance is tested in the new channel.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.