Bitcoin / TetherUSShort
BTCUSDT 4H | Bitcoin market overview: Accumulation
Hello, dear subscribers!
In the previous review we looked at bearish moods on the bitcoin market.
For the last week the price has been in a correction movement after a sharp drop. The price range in the correction zone is $9,820 - $10,600. The resistance zone at the top is $10,600 - $10,800. In order to break bears the bulls need to get fixed above $10,800. Until then, the priority of bears in the bitcoin market will remain. So far, none of the buyers or sellers have managed to defeat the opponent. According to the RSI and MACD indicators, we can see that there is an oversold reduction and accumulation of power bears. It is possible that the price may make a breakthrough up the resistance zone, the so-called "Fake-out", before heading to the bears' targets - $9,400 - $9,500.
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In the previous review we looked at bearish moods on the bitcoin market.
For the last week the price has been in a correction movement after a sharp drop. The price range in the correction zone is $9,820 - $10,600. The resistance zone at the top is $10,600 - $10,800. In order to break bears the bulls need to get fixed above $10,800. Until then, the priority of bears in the bitcoin market will remain. So far, none of the buyers or sellers have managed to defeat the opponent. According to the RSI and MACD indicators, we can see that there is an oversold reduction and accumulation of power bears. It is possible that the price may make a breakthrough up the resistance zone, the so-called "Fake-out", before heading to the bears' targets - $9,400 - $9,500.
Subscribe to the channel and stay with us!
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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.