BTC - 4h. Buyers are ready to test $50,000

12 de fev. de 2021

Hi there. The tension in the BTC market is growing. Yesterday's daily candle closed above the critical range of $46,100-47,100. Buyers hinted at the price growth continuation.

Sellers look weak and cannot bring the price back below the range of $46,100-47,100 . Trading volumes during an attempt to fall are low. All sellers do is hold back a sharp price growth with limit orders. This is clearly seen on the hourly timeframe:


For sellers, the mark of $48,000 is important. There we see the last liquidity zone, above which the price will not be kept.

It looks like the next 12 hour candle will test the range of $50,000. Of course, if within the next 3 hours buyers do not lose the range of $46,100-47,100.

BTC dominance is in consolidation at local lows.
https://www.tradingview.com/x/qYmOEX3o/
So far the facts are on the side of the growth continuation. The only possible factor in the beginning of the correction is the psychological border of $50,000. Round number. Let's see how investors react to it.
___________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!