BTCUSDT 4H | Bitcoin market overview: Indeterminacy
Hello, dear subscribers!
In the previous review, we looked at two options for bitcoin price movement after exiting the downward channel.
In the following days, the bulls managed to consolidate above $58,000. Currently, the price is in the $58,000-$60,000 zone. In order to develop a full-fledged growth, the buyers need to consolidate above the important resistance level of $60,000.
The situation remains controversial. With the growth of the price, we see a cooling on the MACD and RSI indicators. They are decreasing and signaling the weakness of the current growth. The OBV indicator is also decreasing, showing descending peaks since March 20, which suggests that there is a decrease in the buyers' positions in the market.
It is too early to talk about the upcoming bitcoin price drop, the bears need to consolidate below $58,000 in order to intercept the initiative, until then the market is in the hands of the buyers.
Subscribe to the channel and stay tuned!
In the previous review, we looked at two options for bitcoin price movement after exiting the downward channel.
In the following days, the bulls managed to consolidate above $58,000. Currently, the price is in the $58,000-$60,000 zone. In order to develop a full-fledged growth, the buyers need to consolidate above the important resistance level of $60,000.
The situation remains controversial. With the growth of the price, we see a cooling on the MACD and RSI indicators. They are decreasing and signaling the weakness of the current growth. The OBV indicator is also decreasing, showing descending peaks since March 20, which suggests that there is a decrease in the buyers' positions in the market.
It is too early to talk about the upcoming bitcoin price drop, the bears need to consolidate below $58,000 in order to intercept the initiative, until then the market is in the hands of the buyers.
Subscribe to the channel and stay tuned!
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