BTCUSDT 4H | Bitcoin market overview: It happened!
Hello, dear subscribers!
In the previous review, we considered the breakdown of the $19,400 zone as a bullish signal, which will mean the continuation of growth.
To our surprise, not only the growth continued, bitcoin made a powerful move upwards, showing a maximum of $23,800. After that level, the buyers' forces weakened, and now bitcoin price is in the corridor of $22,000 - $24,000. From below, the support zone is $22,200 - $22,600. Above is the resistance zone - $23,600 - $24,000.
If you look globally, the bitcoin price in case the bears attack, has rather deep support levels - $20,600 and $19,600.
According to the MACD and RSI indicators, the market is strongly overbought and the price is staying in a flat before the next price movement. OBV indicator before the beginning of growth showed a decrease in the volume of purchases, after the start of growth showed a sharp surge upward, indicating a strong influence of buyers.
Based on the technical data - growth remains the priority. The range of price movement is quite high - it is about $2.000. Market participants should be ready for sharp movements, and not to lose their heads in case of sudden shedding or sharp growth.
Subscribe to the channel and stay tuned!
In the previous review, we considered the breakdown of the $19,400 zone as a bullish signal, which will mean the continuation of growth.
To our surprise, not only the growth continued, bitcoin made a powerful move upwards, showing a maximum of $23,800. After that level, the buyers' forces weakened, and now bitcoin price is in the corridor of $22,000 - $24,000. From below, the support zone is $22,200 - $22,600. Above is the resistance zone - $23,600 - $24,000.
If you look globally, the bitcoin price in case the bears attack, has rather deep support levels - $20,600 and $19,600.
According to the MACD and RSI indicators, the market is strongly overbought and the price is staying in a flat before the next price movement. OBV indicator before the beginning of growth showed a decrease in the volume of purchases, after the start of growth showed a sharp surge upward, indicating a strong influence of buyers.
Based on the technical data - growth remains the priority. The range of price movement is quite high - it is about $2.000. Market participants should be ready for sharp movements, and not to lose their heads in case of sudden shedding or sharp growth.
Subscribe to the channel and stay tuned!
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