Crypto Technicals: BTC/USD spikes above 6000 mark, tests 61.8% Fib at 6041, bias higher

BTC/USD chart - Trading View 

Exchange - Bitfinex

Support: 5785 (trendline); Resistance: 6041 (61.8% Fib)

Technical Analysis: Bias Bullish

- BTC/USD takes out 6000 mark, tests 61.8% Fib at 6041, bias bullish

- Price action has broken above strong trendline resistance at 5785

- Momentum with the bulls, confirmed 'Golden Cross' on daily charts keeps scope for upside

- Price action is above major moving averages and daily cloud and is holding above 5-DMA

- Volatility is rising as evidenced by widening Bollinger bands and we see +ve DMI dominance

- Break above 61.8% Fib at 6041 finds next major resistance at 6600 and then 76.4% Fib at 6708

- Weakness only below 21-EMA. Break below could see retrace till 200-DMA

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