BTCUSDT 4H | Bitcoin market overview: Price drop
Hello, dear subscribers!
In the previous review, we considered the main case scenarios in the bitcoin market.
The bears successfully took the initiative, the resistance of $61,000 and $59,200 were broken through, after which the price rapidly fell to $50,931. This was followed by the correction, in which the bitcoin price is currently. At the same time, there is a situation, which tells about the soon continuation of the fall. Successive rising peaks of the RSI indicator together with successive declining peaks of the price form a pattern, which, if the $53,000 break down, can correct the price to $45,000. Also the decreasing value of the OBV indicator shows a consecutive decreasing value.
A bearish scenario remains the most likely in the bitcoin market as the bitcoin price is under the $57,500 and $59,000 resistance levels. The scenario described above will be broken if buyers manage to secure the bitcoin price above $57,500. Until then, the bitcoin market is in bearish hands.
Subscribe to the channel and stay tuned!
In the previous review, we considered the main case scenarios in the bitcoin market.
The bears successfully took the initiative, the resistance of $61,000 and $59,200 were broken through, after which the price rapidly fell to $50,931. This was followed by the correction, in which the bitcoin price is currently. At the same time, there is a situation, which tells about the soon continuation of the fall. Successive rising peaks of the RSI indicator together with successive declining peaks of the price form a pattern, which, if the $53,000 break down, can correct the price to $45,000. Also the decreasing value of the OBV indicator shows a consecutive decreasing value.
A bearish scenario remains the most likely in the bitcoin market as the bitcoin price is under the $57,500 and $59,000 resistance levels. The scenario described above will be broken if buyers manage to secure the bitcoin price above $57,500. Until then, the bitcoin market is in bearish hands.
Subscribe to the channel and stay tuned!
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