BTCUSDT 4H | Bitcoin market overview: Positive OBV
Hello, dear subscribers!
In the previous review, we looked at the downtrend as a likely further movement of the bitcoin price.
In the following days, we saw high volatility and testing of support and resistance zones. The bears failed to consolidate below $30,000. This was followed by growth to the resistance level of $38,500. But the bulls didn't manage to develop their advantage either, and bitcoin price returned to the range of $31,000 - $35,000, where we were at the moment of writing the previous review.
Of the indicators, OBV is worth noting. As a result of the breakout to $38,500, the bulls managed to accumulate long positions and consolidate above the resistance level of OBV - 1.79M. According to the indicator it is a bullish signal.
The current situation in the bitcoin market has confused traders. Probably, in the next few days we will see an exit from the current range.
Subscribe to the channel and stay with us!
In the previous review, we looked at the downtrend as a likely further movement of the bitcoin price.
In the following days, we saw high volatility and testing of support and resistance zones. The bears failed to consolidate below $30,000. This was followed by growth to the resistance level of $38,500. But the bulls didn't manage to develop their advantage either, and bitcoin price returned to the range of $31,000 - $35,000, where we were at the moment of writing the previous review.
Of the indicators, OBV is worth noting. As a result of the breakout to $38,500, the bulls managed to accumulate long positions and consolidate above the resistance level of OBV - 1.79M. According to the indicator it is a bullish signal.
The current situation in the bitcoin market has confused traders. Probably, in the next few days we will see an exit from the current range.
Subscribe to the channel and stay with us!
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