Bitcoin for BITFINEX:BTCUSD by EXCAVO

Updated

After we broke through a large triangle and broke the 6000 level, we found support around 3000 and formed a triangle and we entered this triangle from above and it can talk about continuing downward movement. But there are things that contradict this and these are the volumes that are now on the market.
The crypto rally of the Altcoins pleased many traders with their rocketts, and I think now is the calm before the storm. Now we are near a long time line of resistance. And if we break out then for many traders this will be a sign for opening long positions. Since the triangle is broken up the support line is broken, yes it is truly inspiring. and maybe finally we will go up.
But I would not start to rejoice because we are still in a bear market. we are still under MA 200. D1 and W1 RSI is overbought. And we do not fly on the rocket up. I also showed a grid with all the lines of resistance and support that traders must take into account when making investment decisions and building trading strategies.
But the most terrible indicator for me that shows the imminent fall is the Crypto Fear & Greed Index and now we are at around 58 this is an indicator of great greed in the market and with such indicators the market is falling.
alternative.me/crypto/fear-and-greed-index/
I do not think horribly and do not want someone to think that I do not want go to the moon :) I just share my vision and my observations on the market
Thank you for you like and comment

Note

6H Chart

Note

Just yesterday, the coinmarketcap published a new rating of projects. The results are set on a scale from 0 to 1000 points and have the corresponding letter grade.
With the help of the rating it is impossible to fully evaluate projects and compare them. When analyzing a project, you should definitely conduct your own research.

Their rating will allow you to simplify the market navigation, assess the performance and achievements of the project.

Bitcoin, by the way, scored 887 points in this rating and received an A grade.

Note

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