BTCUSDT 4H | Bitcoin market overview: Bullish sign
Hello, dear subscribers!
In our previous review, we looked at the Triangle pattern and bitcoin's downward exit from it. The exit worked correctly, but the bears could not lower the price beyond the first support level of $17,600.
Since December 1, bitcoin price has been inside the $17,600 - $19,400 zone. After the last bounce of the bitcoin price from the support level of $17,600 the RSI and MACD indicators came to the green zone and signal a local bullish trend. It is important for buyers to consolidate above $19,400 level - it will be a good sign for continuation of the global uptrend. Also on the bitcoin market, formation of a pattern - fakeout, a brief exit above the resistance level - $19,400 and a reversal downward is possible. For now, bitcoin market is on the side of buyers.
OBV indicator shows that the current bitcoin growth is not supported by a set of long positions. The indicator shows declining growth peaks in buying volumes, indicating that the bulls are weakening.
Subscribe to the channel and stay tuned!
In our previous review, we looked at the Triangle pattern and bitcoin's downward exit from it. The exit worked correctly, but the bears could not lower the price beyond the first support level of $17,600.
Since December 1, bitcoin price has been inside the $17,600 - $19,400 zone. After the last bounce of the bitcoin price from the support level of $17,600 the RSI and MACD indicators came to the green zone and signal a local bullish trend. It is important for buyers to consolidate above $19,400 level - it will be a good sign for continuation of the global uptrend. Also on the bitcoin market, formation of a pattern - fakeout, a brief exit above the resistance level - $19,400 and a reversal downward is possible. For now, bitcoin market is on the side of buyers.
OBV indicator shows that the current bitcoin growth is not supported by a set of long positions. The indicator shows declining growth peaks in buying volumes, indicating that the bulls are weakening.
Subscribe to the channel and stay tuned!
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