BTCUSDT 4H | Bitcoin market overview: OBV Falling
Hello, dear subscribers!
In the previous and other reviews we have repeatedly analyzed the meaning of the OBV indicator.
We have marked the important support for the buyers - 2.15M. In the days following the last bitcoin market review, the sellers managed to break down important support for the buyers. The bitcoin price corrected from $59,500 to $55,500 in this move.
At the moment, we are seeing the bitcoin price recovering from the fall. One of the expected scenarios of bitcoin price movement is a return to the 2.15M level of the OBV indicator after which a bounce down and a deeper fall of bitcoin price. On the chart, the projected movement is marked with arrows. The next bearish targets after the $55,000 are $52,000 and the round $50,000. It is also possible that the bulls will be able to win back the fall and raise the OBV above 2.15M.
Other indicators MACD and RSI are in the recovery zone, RSI is above 50, MACD shows growth.
In the next days or hours we may see a decoupling in the bitcoin market. All buyers should be careful, probably now the bitcoin price is at an attractive enough level to take profits.
Subscribe to the channel and stay tuned!
In the previous and other reviews we have repeatedly analyzed the meaning of the OBV indicator.
We have marked the important support for the buyers - 2.15M. In the days following the last bitcoin market review, the sellers managed to break down important support for the buyers. The bitcoin price corrected from $59,500 to $55,500 in this move.
At the moment, we are seeing the bitcoin price recovering from the fall. One of the expected scenarios of bitcoin price movement is a return to the 2.15M level of the OBV indicator after which a bounce down and a deeper fall of bitcoin price. On the chart, the projected movement is marked with arrows. The next bearish targets after the $55,000 are $52,000 and the round $50,000. It is also possible that the bulls will be able to win back the fall and raise the OBV above 2.15M.
Other indicators MACD and RSI are in the recovery zone, RSI is above 50, MACD shows growth.
In the next days or hours we may see a decoupling in the bitcoin market. All buyers should be careful, probably now the bitcoin price is at an attractive enough level to take profits.
Subscribe to the channel and stay tuned!
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