Bitcoin has smashed through the $30K's and reestablished the $40K handle. We saw a sharp buying spike on February 4th, which sailed through the vacuum zone and solidly broke our first psychological and technical level at $40.0K. After that, we were able to ascend further, breaking $41.6K and $41.9K, two technical levels that have provided prohibitive resistance in the past. Currently, we appear to be making another bull run, and are currently testing $43.1K. We have one more level at $43.8K to break through before we can consider the $45K's again. The Kovach OBV appears to be arching downward at this point so we are likely to retrace or range a bit beforehand. If Bitcoin does retrace, we should see support from $40K, but if not, then $38.2K is the first level in the $30K handle and will likely provide good support.
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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.