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As you can see BTC Doesn't Looks good at all as of noey ! Loosing momentum, Strong Resistance ahead, Hidden Bearish Divergence all are Indicating that we may see a Significant drop in upcoming days !
Only hope for Bulls is that they Make a Strange moves and Anyhow Breaks and Fixes above 7500$. Below that Mark, it's Better to stay out of this Asset !
Important Levels to Watch here is : 6500$, 6200$, 5800$
Let's see how it goes.
It already broke 7500$ and it will continue to increase knowing that the bitcoin halving is very near but I am worried if it can really push the price that hard especially that we are currently facing a pandemic right now. But base on the last few days, the market is very positive which is gaining a green remark until now so we can expect that it will continue until the halving will happen.
But after the halving will be very crucial because if the bull run will not be triggered then there is a big chance that the market will crash again especially if the pandemic will not be resolve.
Well when the OP posted this, it was like six days ago, and that time we have been struggling the breake the next resistance which is $7200. And it seems that the market suddenly went on a run to $7500-$7700 which makes me excites but at the same time, could be a bear trap.
So let's see if this is really a bullish signal prior to the halving next month. A good $8k is not that bad, actually we have doubled the last lows for this year already, which is $3800. So everything is really pointed to a good direction, but I will still remain cautious.