Bitcoin is holding a very narrow range from 
31K to $32.3K. Such a consolidation of volatility indicates that a breakout should follow soon. We assert that we are due for a pump, even if it is a relief rally into the broader bear trend. The Kovach OBV is still quite bearish, but does appear to be bottoming out. If we are wrong, the psychological and technical level of $30K will provide some support but the more we are comfortable testing this level the more likely we are to break it. At the end of last month, we tested 
29K, but this was swiftly bought back. This would be the next level of support should we break through to the $20K handle again.
31K to $32.3K. Such a consolidation of volatility indicates that a breakout should follow soon. We assert that we are due for a pump, even if it is a relief rally into the broader bear trend. The Kovach OBV is still quite bearish, but does appear to be bottoming out. If we are wrong, the psychological and technical level of $30K will provide some support but the more we are comfortable testing this level the more likely we are to break it. At the end of last month, we tested 29K, but this was swiftly bought back. This would be the next level of support should we break through to the $20K handle again.
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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.