BTCUSDT 4H | Bitcoin market overview: Uncertainty
Hello, dear subscribers!
In the previous review we considered the support and resistance zones on the bitcoin price chart.
In the following days, the Bitcoin price reduced its volatility and moved between the resistance level of $19.350 and the lower resistance zone, which has now become a support zone. A triangle was formed in the chart. At the moment, the price of Bitcoin went beyond the lower boundary of the triangle, but bounced from the support level - $18.550, because it did not go above the value of a candle that broke the triangle - $19.350.
According to the OBV indicator, we can see a gradual set of long positions, which may indicate the upcoming upward movement. The RSI and MACD indicators show a gradual decrease, which indicates an increase in the strength of the bears.
As long as there is uncertainty in the market, a reliable indicator of the trend direction will be the Bitcoin price going beyond the flat - range boundaries.
Subscribe to the channel and stay with us!
Translated with DeepL.com/Translator (free version)
In the previous review we considered the support and resistance zones on the bitcoin price chart.
In the following days, the Bitcoin price reduced its volatility and moved between the resistance level of $19.350 and the lower resistance zone, which has now become a support zone. A triangle was formed in the chart. At the moment, the price of Bitcoin went beyond the lower boundary of the triangle, but bounced from the support level - $18.550, because it did not go above the value of a candle that broke the triangle - $19.350.
According to the OBV indicator, we can see a gradual set of long positions, which may indicate the upcoming upward movement. The RSI and MACD indicators show a gradual decrease, which indicates an increase in the strength of the bears.
As long as there is uncertainty in the market, a reliable indicator of the trend direction will be the Bitcoin price going beyond the flat - range boundaries.
Subscribe to the channel and stay with us!
Translated with DeepL.com/Translator (free version)
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