Bitcoin Gains Strength
Bitcoin fell to lows over the weekend, cracking 54.3K. It looked like we were going to see another dump deeper into the lower 50K handle, but we found support just above our level at 52.8K. From here, we saw a big pump back up to 57.7K. We are currently holding a very narrow range between 56.8K and and 57.7K. The Kovach OBV has picked up notably, but has waned with the ranging. We should see continued support from 56.8K, but if this does not hold, then look for support at 55.7K and 54.3K. The next target is 59.4K. It is the barrier to the 60K handle, and should provide significant psychological and technical resistance.
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