Bitcoin has gradually drifted up to break the upper bound of the range it had held between $43.8K and $47.4K. We are meeting resistance one level above at $48.2K. This rally seems very weak by crypto standards. The Kovach OBV has barely moved from lows, and the price action is clearly quite gradual compared to the large spikes of momentum that we typically see when Bitcoin breaks through a level. Watch for resistance here at $48.2K. If not, we have a vacuum zone to $49.7K, which is the last major level in the $40K handle.
Note
Bitcoin establishing a very narrow range between $47.4K and $48.2K.
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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.