Bitcoin has made another run for relative highs, with $45K still an upper bound but providing strong resistance as confirmed by several red triangles on the KRI. We do appear to be forming a bull wedge pattern with $45K as the upper bound. The Kovach OBV has completely leveled off with the ranging. This suggests that we may range further, but if momentum builds, then we can anticipate a breakout to higher levels. We should see some resistance in the $45K-
46K range, but $47.4K is our next target if we are able to break through. We should see support from $43.1K or $41.9K in the event of a retracement.
46K range, but $47.4K is our next target if we are able to break through. We should see support from $43.1K or $41.9K in the event of a retracement.
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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.