BTC Update #BTC_Update What's new since the last update my de | 4C Trading News

BTC Update #BTC_Update

What's new since the last update my dear community? Well BTC was trading just below the lower bound of its consolidation zone yesterday and is now trading around 48500, right in the middle of it.

The trading volume in the previous session was below its average level but significantly higher than the two sessions before. Furthermore, if we zoom in on the 4h, we see a spike in buying volume as we approach 48500.

The daily technical situation remains positive and we are starting to see some signs of bullish bending on the MACD and WaveTrend which are therefore leaving their oversold zone. On a 4h time frame, the indicators are also positive.

What to do now?

Well, there is some movement today but is it a reason to get excited? Not yet guys! If the bullish movement continues and we manage to retake the top of the range and the 53k, then we will look for buy positions. For now, we remain stuck below the intermediate resistance of 48700.

https://www.tradingview.com/x/...

Caution as usual, no over exposure! I wish you all a great day!