In the previous review, we looked at positive signals in the bitcoin market, in particular the value of the OBV indicator.
In the following days, bitcoin price overcame local resistances and renewed historical price highs. Resistance zones have turned into support zones.
Currently, the price is in the range of $43,000 - $48,000, the rising trend remains in force. The bulls' target is round $50,000.
indicator is in the green zone, which indicates the strength of the upward movement. The indicator value is in the overbought zone, which suggests that the growth needs a corrective move to reset the overbought. The OBV indicator overcame the previous high of 1.95M, its current value is 2.02M, now the previous high has become a for the buyers.
The situation in the bitcoin market remains in the hands of the bulls, who once again won the bears and brought the bitcoin price to a new high. In the coming days we will see if the bulls will be able to keep the initiative in their hands.
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