Bitcoin is maintaining the $45K-
46K range, and has consolidated considerably. We found good support at $45K, with a small pivot back to the 46K handle, with strong support from $46.2K. We appear to be forming a bull pennant pattern. Momentum has flatlined as measured by the Kovach OBV, and we will need to see another wave of bids come through before we can test $47.4K again. We have two strong levels at $48.2K and $49.7K before we can consider the $50K's again. If not, we are likely to break down and find support at $43.8K.
46K range, and has consolidated considerably. We found good support at $45K, with a small pivot back to the 46K handle, with strong support from $46.2K. We appear to be forming a bull pennant pattern. Momentum has flatlined as measured by the Kovach OBV, and we will need to see another wave of bids come through before we can test $47.4K again. We have two strong levels at $48.2K and $49.7K before we can consider the $50K's again. If not, we are likely to break down and find support at $43.8K.
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Join my discord at discord.io/quantguy
Related publications
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.