Bitcoin continues to trade above $6.5k yet appears Complex

Bitcoin continues to trade above $6k and $6.5k for the 5^th day now, and we are likely to draw a week full of bullish crossover if it does not nosedive any sooner. However, even if BTC maintains a winning streak, it is drawing a controversial picture overall. In less than 30 days, the coin has exhibited two extremities viz., bottoming out at $3.8k just to toll at $6.9k amidst the global crisis breakout.

Now, if we look into the positive extremity of the hourly BTC price trend, we see that the candlestick is forming a Cup and Handle, which is pointing towards a bullish trend ahead. If we abide by the above movement of Bitcoin, it is likely to draw a fine uptrend and retreat above the major resistance at $7k. Now, holding on the negative extremity that we had pointed out just yesterday, where the coin has already experienced a “death crossover,” which means that a dip below $6k and $5.5k will be no surprise.

These complex crossovers have been topped with…