BTCUSDT 4H | Bitcoin market overview: Bearish time
Hello, dear subscribers!
In the previous review, we looked at the uptrend in the bitcoin market.
Since then, the price rose from $54,600 to $59,500 and rolled back to $55,800. On the OBV indicator, we saw a pullback from the 2.10M resistance level, which shows the dominance of bears in the market. So far, they have succeeded in starting the bitcoin price sideways without a full-fledged decline in the price to the current support levels of 51,000 and 48,000, or lower. By other indicators, MACD and RSI we see the formation of a downtrend. Probably, in the next hours the bears can increase the attack and the bulls will have a tough time. Buyers should be careful, buying will be relevant if the current indicators break down and the price fixes above $58,000.
Subscribe to the channel and stay tuned!
In the previous review, we looked at the uptrend in the bitcoin market.
Since then, the price rose from $54,600 to $59,500 and rolled back to $55,800. On the OBV indicator, we saw a pullback from the 2.10M resistance level, which shows the dominance of bears in the market. So far, they have succeeded in starting the bitcoin price sideways without a full-fledged decline in the price to the current support levels of 51,000 and 48,000, or lower. By other indicators, MACD and RSI we see the formation of a downtrend. Probably, in the next hours the bears can increase the attack and the bulls will have a tough time. Buyers should be careful, buying will be relevant if the current indicators break down and the price fixes above $58,000.
Subscribe to the channel and stay tuned!
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.