Bitcoin has rocketed off of news about the Russian sanctions. We have blasted through resistance at $40K, which we anticipated would hold, and have clawed back to $43.8K, where we are meeting resistance. We are seeing support from below in a narrow band between $43.8K an the next level below at $43.1K. Watch the vacuum zone below to $41.9K. We should have strong support there, but if not, then $40K should provide support where it just recently provided prohibitive resistance. The Kovach OBV is strong, but has started to level off. If we can muster the strength for another breakout, then $45K is the next target.
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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.