Bitcoin has established value just above the range it was holding after the selloff. Currently, we are trading sideways in a very narrow range between $47.4K and $48.2K. There is a vacuum zone above to $49.7K, but we do not appear to have the strength to test it, at least for the moment. The Kovach OBV appears dead for now, and it will take significant momentum to break through to upper levels. But $49.7K is the last major level in the $40K handle, the final barrier to the $50K handle. If we break down, we should see support from $46.2K.
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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.