BTCUSDT 4H | Bitcoin market overview: Is the correction coming?
Hello, dear subscribers!
In the previous review, we looked at the overheated bitcoin market after impressive growth.
The RSI, OBV and MACD indicators signal the formation of divergence - a decrease in the values of indicators as the price rises.
The OBV indicator is at an important level - 1.086M. A break below this value will lead to a significant price decrease. We have identified two support zones as a reference point: $14,500 - $14,750 and $13,500 - $14,000.
Currently, the Bitcoin price is in the resistance zone of $16,000 - $16,400 and is $16,330. The previous 4-hour candlestick formed a reversal pattern Doji, confirmation of the reversal will be updating the minimum of the previous candlestick.
While there is no confirmation of reversal, the bitcoin price is in an upward trend. An exit and fixation of the price above 16,400 will open the way for the bulls to the zone of $16,700 - $17,000.
Subscribe to the channel and stay with us!
In the previous review, we looked at the overheated bitcoin market after impressive growth.
The OBV indicator is at an important level - 1.086M. A break below this value will lead to a significant price decrease. We have identified two support zones as a reference point: $14,500 - $14,750 and $13,500 - $14,000.
Currently, the Bitcoin price is in the resistance zone of $16,000 - $16,400 and is $16,330. The previous 4-hour candlestick formed a reversal pattern Doji, confirmation of the reversal will be updating the minimum of the previous candlestick.
While there is no confirmation of reversal, the bitcoin price is in an upward trend. An exit and fixation of the price above 16,400 will open the way for the bulls to the zone of $16,700 - $17,000.
Subscribe to the channel and stay with us!