BTCUSDT 4H | Bitcoin market overview: Correction or downtrend?
Hello, dear subscribers!
In the last review we defined the resistance and support zones for the current bullish trend.
In the following days, the Bitcoin price was under the control of the bulls, which brought it to the level of $14,100, closing the period at $13,940, which is the upper limit of our resistance zone. The bears didn't let the price rise above that level. After that we entered the local correction zone.
Currently, the Bitcoin price is $13,530, the RSI and MACD indicators show bearish market direction. A pattern of divergence has also formed on the MACD, RSI and OBV indicators, which may signal the formation of a downtrend. The local support zone of the current price movement is $13,100 - $13,200. It is too early to speak about trend change before the price does not consolidate below this level.
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In the last review we defined the resistance and support zones for the current bullish trend.
Currently, the Bitcoin price is $13,530, the RSI and MACD indicators show bearish market direction. A pattern of divergence has also formed on the MACD, RSI and OBV indicators, which may signal the formation of a downtrend. The local support zone of the current price movement is $13,100 - $13,200. It is too early to speak about trend change before the price does not consolidate below this level.
Subscribe to the channel and stay with us!