Failing to break 59 - 60k in May lead to bear market
The last time 59 - 60k resistance zone was broken the market was bullish and as you see (green arrow) break out done using 7% candle with good momentum( RSI = 70).
The current condition is so close to 8th May ( red arrow) with frequent testing to break while market was not so bullish ( around 50 RSI with small candles)
The current condition is so close to 8th May ( red arrow) with frequent testing to break while market was not so bullish ( around 50 RSI with small candles)
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.