Bitcoin is finding support in the mid $50K's. We have tested $55.7K several times, and appear to be forming a bear wedge at this level. We have not been able to muster the strength to break through resistance in the high $50K's to test $60K again, which suggests that Bitcoin will remain in the $50K's at least through the Thanksgiving Holiday in the US. If we break down from current levels, then $54.3K is the next target. The Kovach OBV has been quite bearish, but has leveled off suggesting that Bitcoin is content with current levels for the moment. We will see resistance from $57.7K, then $59.4K if we catch a bid.
Join my discord at discord.io/quantguy
Related publications
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.
Join my discord at discord.io/quantguy
Related publications
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.