Bitcoin has made another run for lows in the mid $30K's. We found good support at $36.7K, confirmed by a green triangle on the KRI. The Kovach OBV is still bearish, but does appear to be leveling off. We are seeing an inverse head and shoulders type pattern in Bitcoin with a "neckline" around $38.9K. If this is the case then a breakout could easily take us back to the $40K's, but we might need some fundamental driver like the situation with Russia to improve. If we are able to break out, the first target is $40.0K. If we reject current levels then $36.7K should hold.
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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.