Equilibrium of the forces in the Bitcoin market

After a strong bearish imbalance in the market, the forces came to a point, where both of them agree with the price.

On the 4h chart we can see a trading range, which is confirmed by a low volume.
The RSI managed to go back above 30.

The price is far below the 30 EMA, so the market is still in a bearish mood.

The price will probably remain for a while in this range and then a next breakout will follow.
There is a small possibility of a little reversal upward, but under current circumstances i am assuming another drop down.


If you found this post helpful, like, comment, and subscribe!

Telegram Signals
t.me/NextLevelCrypto