BTCUSDT 4H | Bitcoin market overview: Fight for $48,000 level
Hello, dear subscribers!
In the previous review, we considered a short as the most likely scenario for the bitcoin price to move from the $56,000 level.
The targets for this move were $46,000 to $48,000. As a result, the bears managed to lower the price to $43,000. After that the bulls managed to reverse the movement. The previous support levels became resistance levels.
At the current moment, the bulls are fighting with the bears for the exit into the area of 48,000 - 51,000. The closing of the current 4-hour candle above the resistance level and confirmation of the output of the next candle will indicate the victory of the bulls.
According to the MACD and RSI indicators, we see the strengthening of the growing trend. On the OBV indicator, the buyers managed to beat off the 2M level, which suggests that the level of 43,000 - 44,000 became very attractive for buyers and they are ready to increase the volume at this price and above.
If the bears manage to keep the price below 48,000, the bitcoin price will continue its movement in the 43,000 - 48,000 range.
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In the previous review, we considered a short as the most likely scenario for the bitcoin price to move from the $56,000 level.
At the current moment, the bulls are fighting with the bears for the exit into the area of 48,000 - 51,000. The closing of the current 4-hour candle above the resistance level and confirmation of the output of the next candle will indicate the victory of the bulls.
According to the MACD and RSI indicators, we see the strengthening of the growing trend. On the OBV indicator, the buyers managed to beat off the 2M level, which suggests that the level of 43,000 - 44,000 became very attractive for buyers and they are ready to increase the volume at this price and above.
If the bears manage to keep the price below 48,000, the bitcoin price will continue its movement in the 43,000 - 48,000 range.
Subscribe to the channel and stay with us!