Bitcoin is edging higher, but is facing stiff resistance at $22.4K, the level we identified yesterday. We are seeing steep resistance here confirmed by red triangles on the KRI. The Kovach OBV is still bullish, but may not register enough momentum to suggest the divergence needed to break through. If we do, then $23.9K is the next target. If we reject current levels, we should see support at $20.7K.
Note
Bitcoin rejects $22.4K after inflation data comes in higher than anticipated
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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.