BTCUSDT 4H | Bitcoin market overview: Local uptrend part 2
Hello, dear subscribers!
In the previous review, we marked the local uptrend in the bitcoin market and the price range of bitcoin price movement.
Since then, bitcoin price has reached prices of 56,428 and 52,330, which matches the established price range. But neither the bulls nor the bears have been able to get above or below the price range. The growth took place without increasing the volume of purchases, on the indicator OBV we can see the decline in indicators, it still has not reached 2.10M. Indicators MACD and RSI are in the zone of uncertainty. To determine the future direction of the bitcoin price should focus on fixing above or below the current trading range - $53,000 or $56,000. Also, the assumption that there will be a rebound from the indicator 2.10M on the OBV indicator is still valid. For this purpose it is necessary several growing candles with good trading volumes, i.e. continuation of a local uptrend.
Subscribe to the channel and stay tuned!
In the previous review, we marked the local uptrend in the bitcoin market and the price range of bitcoin price movement.
Since then, bitcoin price has reached prices of 56,428 and 52,330, which matches the established price range. But neither the bulls nor the bears have been able to get above or below the price range. The growth took place without increasing the volume of purchases, on the indicator OBV we can see the decline in indicators, it still has not reached 2.10M. Indicators MACD and RSI are in the zone of uncertainty. To determine the future direction of the bitcoin price should focus on fixing above or below the current trading range - $53,000 or $56,000. Also, the assumption that there will be a rebound from the indicator 2.10M on the OBV indicator is still valid. For this purpose it is necessary several growing candles with good trading volumes, i.e. continuation of a local uptrend.
Subscribe to the channel and stay tuned!
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