Bitcoin has pivoted off lows as we predicted, but has run into resistance at the highs of the range at $20.7K. We have multiple red triangles on the KRI confirming resistance. The Kovach OBV has edged up, but does indicate any significant momentum that could break through to higher levels. If we are able to then $22.4K is the next target. It is much more likely that we will retrace the range back to support at $18.6K. Mean reversion trading has been the best tactic for trading Bitcoin for over a month now.
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Join my discord at discord.io/quantguy
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.