Bitcoin broke through above $29,000: "fakes" fuel doubts about the power of BTC

The price of BTC has approached $30,000, but market participants see this as a "deviation" from the highs of the range.

The "deviation" brings the BTC price closer to $30,000

Cointelegraph Markets Pro and TradingView confirmed that the price of BTC/USD jumped to $29,170 overnight on Bitstamp.
The rejection followed almost immediately, bringing the pair back to square one and causing already skeptical market participants to shout "fake."
"Nothing has changed: yes, we had a nice jump above the highs, but that was to be expected," commented popular trader Credible Crypto on Twitter, calling the move a "diversion."
Another cryptocurrency trader, Chase, also called the move necessary to maintain the $29,000 level in order to consider any long positions.

BTC USD

So far, we have a deviation from the daily resistance. The bulls would like the gray frame on the LTF to persist. In that case, the possibility that this move is a stop run/deflection seems more reasonable to me.
If we recover $29,000, I would try a long scalping move. If we fall below the gray zone, I will scalp short. I'll scalp in the middle.

Slightly more optimistic cryptocurrency watcher Tony is hopeful that short-term range highs could still lead to new support.
"Bear markets are characterized by a lot of FUD, and bitcoin has really suffered over the last year or so. But we're still holding up well, our target is $30,000. I'm looking forward to a bull market, whether it's tomorrow or next year," he added.