BITCOIN Breaking Resistance For Weekly Resistance Test

Well, this is both good and bad news. We are seeing the upside to break resistance, but there really wasn't much of a fight at this level like we'd expect. Yesterday, I mentioned that I wasn't really sure what to make of a scenario like this. Overall, I don't think it's a super positive sign.

Volume-wise, we're looking like another decrease in weekly volume. This along with an easy break of a huge resistance level is another sign that this move isn't strong and that there's bears waiting to pounce.

Stochastic RSI has been smashed against the ceiling since March, so there's that.....

Overall, good job to the bulls, but I'm not super confident this upside move will continue. The $6,000 level isn't looking like much of a support as well.