Bitcoin has broken out past its former barrier of $43.1K as it makes its way further up the $45K handle. We are seeing resistance at every step of the way with this rally, with red triangles on the KRI at every technical level we have drawn. The momentum does seem to be weakening, with the Kovach OBV inching up slightly throughout this whole move. We are still skeptical of this rally entirely, but $45K seems to be the 'line in the sand' to higher prices. If we can break that, then our next major target is $47.4K, which is a significant step to $50K again. We are due for a technical retracement either way, which could take us back to $43.1K, 
41K or $40K. We anticipate the $40K's to hold for now either way.
41K or $40K. We anticipate the $40K's to hold for now either way.
Join my discord at discord.io/quantguy
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.
Join my discord at discord.io/quantguy
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.