Hello, dear subscribers!
In the previous review we looked at downtrend as a likely scenario on the bitcoin market.
The situation has not changed in the past days. The price of bitcoin has corrected after the fall, currently it is $10,700. The MACD and RSI indicators have returned to the green zone, the OBV indicator shows an increase in sales, which indicates the growing power of the bears.
The price of the Bitcoin is in a narrowing triangle, the exit from which will determine the further direction of price movement. Since the entry into the triangle was made from top to bottom, according to technical analysis, the preferred exit will also go down. The purpose of the bears remains the same, it is $9,300-$9,500.
Subscribe to the channel and stay with us!
In the previous review we looked at downtrend as a likely scenario on the bitcoin market.
The situation has not changed in the past days. The price of bitcoin has corrected after the fall, currently it is $10,700. The MACD and RSI indicators have returned to the green zone, the OBV indicator shows an increase in sales, which indicates the growing power of the bears.
The price of the Bitcoin is in a narrowing triangle, the exit from which will determine the further direction of price movement. Since the entry into the triangle was made from top to bottom, according to technical analysis, the preferred exit will also go down. The purpose of the bears remains the same, it is $9,300-$9,500.
Subscribe to the channel and stay with us!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.