BTCUSDT 4H | Bitcoin market overview: Triangle battle
Hello, dear subscribers!
In the previous review, we looked at the boundaries of bitcoin price movement zones in the short term.
In the following days, the bears managed to lower the bitcoin price to the resistance zone 1. Buyers managed to beat off the bears' attack twice and push the price up.
At the moment, bitcoin price is at the border of the resistance level - $36,800, which was previously a support. The bitcoin's price movement forms a "triangle" pattern, an exit from which up or down will cause the price movement equal to the height of the triangle, which is about $10,000.
The MACD and RSI indicators show the dominance of buyers in the market, in the current 4-hour candle they both went into the green zone. If the bears did not manage to close the current candle in the red zone, a buy signal will be formed. The OBV is showing a decline in the long positions of the last few days, which tells you that the sellers are increasing their positions. This may be a negative factor for further bitcoin price growth.
Subscribe to the channel and stay tuned!
In the previous review, we looked at the boundaries of bitcoin price movement zones in the short term.
At the moment, bitcoin price is at the border of the resistance level - $36,800, which was previously a support. The bitcoin's price movement forms a "triangle" pattern, an exit from which up or down will cause the price movement equal to the height of the triangle, which is about $10,000.
The MACD and RSI indicators show the dominance of buyers in the market, in the current 4-hour candle they both went into the green zone. If the bears did not manage to close the current candle in the red zone, a buy signal will be formed. The OBV is showing a decline in the long positions of the last few days, which tells you that the sellers are increasing their positions. This may be a negative factor for further bitcoin price growth.
Subscribe to the channel and stay tuned!