BTCUSDT 4H | Bitcoin market overview: Overheating
Hello, dear subscribers!
In the previous review the price of bitcoin was at $15,500 and we predicted further growth. The price of Bitcoin now is $16,230.
Bitcoin price is renewing increasingly new highs, but the bitcoin market is accumulating overheating. After a prolonged growth should follow a correction. Indicators RSI and OBV confirm local overbought. New price highs are accompanied by lower RSI and OBV peaks, indicating that buyers are losing strength.
At the moment, the price is in the resistance zone - $16,000 - $16,400 and in order to go above the price you need to secure yourself above the resistance zone.
At the bottom, the support level is $15,500, followed by the support zones of $14,500 - $14,800 and $13,600 - $14,000. If the bears succeed in defeating the bulls and do not let them get fixed above the resistance level, their targets will be the designated support levels.
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In the previous review the price of bitcoin was at $15,500 and we predicted further growth. The price of Bitcoin now is $16,230.
At the moment, the price is in the resistance zone - $16,000 - $16,400 and in order to go above the price you need to secure yourself above the resistance zone.
At the bottom, the support level is $15,500, followed by the support zones of $14,500 - $14,800 and $13,600 - $14,000. If the bears succeed in defeating the bulls and do not let them get fixed above the resistance level, their targets will be the designated support levels.
Subscribe to the channel and stay with us!