BTCUSDT 4H | Bitcoin market overview: What's next 2
Hello, dear subscribers!
In the previous review, we looked at the bearish trend in the bitcoin market.
Since then, bitcoin price took a breakdown to $30,000 before recovering to $42,000. Such price movements have taken either big losses or big gains. Now traders are worried about the question: what will happen next?
At the moment, bitcoin price is trading around $40,500 - $41,000, just above the support level outlined in the previous review. The MACD and OBV indicators are in favor of the bulls. MACD indicator shows a positive trend, which is beneficial for the bulls. The value of the OBV indicator is above the support at 1.9M, though it was broken when the price fell to $30,000. RSI indicator shows a dual situation. We see an emerging convergence - a signal to sell, if the price from now on does not exceed its highs after the fall to $30,000 and will consolidate below $39,000, then we may fall to the values of $33,000 - $33,500.
Subscribe to the channel and stay tuned!
In the previous review, we looked at the bearish trend in the bitcoin market.
At the moment, bitcoin price is trading around $40,500 - $41,000, just above the support level outlined in the previous review. The MACD and OBV indicators are in favor of the bulls. MACD indicator shows a positive trend, which is beneficial for the bulls. The value of the OBV indicator is above the support at 1.9M, though it was broken when the price fell to $30,000. RSI indicator shows a dual situation. We see an emerging convergence - a signal to sell, if the price from now on does not exceed its highs after the fall to $30,000 and will consolidate below $39,000, then we may fall to the values of $33,000 - $33,500.
Subscribe to the channel and stay tuned!