BTCUSDT 4H | Bitcoin market overview: What's next?
Hello, dear subscribers!
In the previous review, we looked at the bitcoin price decline as the most likely course of action in the bitcoin market.
Since then, the bitcoin price has dropped from the $57,000 level to $42,200 and is now trading around $44,500. Current levels at the moment are support at $42,000 and $40,000 and resistance at $47,500 and $51,000. Let's take a closer look at the OBV indicator. The level of support for the buyers is 1.9M. Buyers need to hold this level in order not to provoke further bitcoin price drop. MACD and RSI indicators show complete bearish dominance in the market.
Bitcoin in the current situation should be traded from support and resistance levels, buy from $42,000 and sell from $47,500.
Subscribe to the channel and stay with us!
In the previous review, we looked at the bitcoin price decline as the most likely course of action in the bitcoin market.
Since then, the bitcoin price has dropped from the $57,000 level to $42,200 and is now trading around $44,500. Current levels at the moment are support at $42,000 and $40,000 and resistance at $47,500 and $51,000. Let's take a closer look at the OBV indicator. The level of support for the buyers is 1.9M. Buyers need to hold this level in order not to provoke further bitcoin price drop. MACD and RSI indicators show complete bearish dominance in the market.
Bitcoin in the current situation should be traded from support and resistance levels, buy from $42,000 and sell from $47,500.
Subscribe to the channel and stay with us!
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