Even though Bitcoin on the 4-hour chart is still in a significant Bullish condition which is confirmed by the Alligator which is moving upwards and the Awesome Oscillator which is above the positive area and the bar is green and the price movement is in the Bullish channel which is.
It is clear from the four-hour TF that bitcoin has achieved its previous peak close to the $18,500 mark. There is sufficient evidence for a decrease to take place at present. Before, the rate climbed up to a specific level before declining abruptly. The timing is good for a downward.
The rise above $18,000 is the first sign of Bitcoin’s strength since November. It is breaking above a key short-term resistance trend line from $32,300, coming from $18,000. Bitcoin has been trading in a trading range since November and at the same time breaking above a key short-term resistance.
Trading ranges denoted by red lines At the beginning of the year, the price of one bitcoin is approximately $16,700. The price remains rangebound inside the trading range it has been confined to since November. Price has not made any significant movement either up or lower in recent exchanges. Bitcoin.