BTCUSDT 4H | Bitcoin market overview: Bearish
Hello, dear subscribers!
In our previous review, we looked at the formation of the "triangle" pattern on the bitcoin price chart.
Bitcoin price came out of the "triangle" downwards, this confirms selling as the main scenario. The price minimum after exiting the "triangle" at the level of - $35,000, was - $28,850. After that, bitcoin price corrected upwards and entered the zone of $31,000 - $34,300 between support and resistance level. At the moment, bitcoin price is within this range. According to the MACD and RSI indicators, we see a corrective upward movement. An interesting picture is observed on the OBV indicator - the indicator value has fallen under the support of 1.795M, which indicates a bear market. A rebound from resistance is likely to lead to another bearish attack in the bitcoin market.
Subscribe to the channel and stay tuned!
In our previous review, we looked at the formation of the "triangle" pattern on the bitcoin price chart.
Bitcoin price came out of the "triangle" downwards, this confirms selling as the main scenario. The price minimum after exiting the "triangle" at the level of - $35,000, was - $28,850. After that, bitcoin price corrected upwards and entered the zone of $31,000 - $34,300 between support and resistance level. At the moment, bitcoin price is within this range. According to the MACD and RSI indicators, we see a corrective upward movement. An interesting picture is observed on the OBV indicator - the indicator value has fallen under the support of 1.795M, which indicates a bear market. A rebound from resistance is likely to lead to another bearish attack in the bitcoin market.
Subscribe to the channel and stay tuned!
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