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Will Bitcoin Make New Highs Again??As predicted yesterday, bitcoin broke out to make new highs. There is strong optimism off of this new Bitcoin ETF, which has bled into the entire crypto market. At this point, Bitcoin has retraced just a bit, finding support at the next level down, $64.3K. The Kovach OBV is strong but has tapered. At this point a technical retracement is due, which could take us to lower levels in the $60K handle. If these don't hold, $59.4K and $57.7K should hold. The bull trend is very strong, however, so we could see new highs again today. If so, our next target is $68.6K.
BITSTAMP:BTCUSDLong
by quantguy
New Highs Bitcoin??Bitcoin has inched higher, topping its previous high, but just barely. We are definitely struggling with $62.4K. There is still a great deal of excitement and exuberance in the crypto market over the new US ETF backed by Bitcoin futures. If the bull run continues, the next target is $64.3K. This is the last level before we can test all time highs again around $65K. The chart is starting to look a bit top heavy, so beware of a correction before we can test highs. If so, we should see support at $59.4K, or $57.7K.
BITSTAMP:BTCUSD
by quantguy
2
Bitcoin ETF Coming!! New Highs Soon??Bitcoin continues to press higher, fueled by news of a Bitcoin ETF finally launching in the US. We have held strong under $62.4K, which we have added as a new technical level after $61.6K. We are but one technical level ($64.3K) away from all time highs at $64.8K. There does not seem to be much in the way between current prices and all time highs, but watch for a retracement after the ETF is released, or potentially before. The Kovach OBV has cooled off quite a bit, so we can anticipate some ranging before the next push higher.
BITSTAMP:BTCUSD
by quantguy
Bitcoin to $60K??Bitcoin has regained highs, inching past $57.8K before a brief retracement to support at that level. The difference between new relative highs is getting smaller, suggesting that we may be due for a retracement soon. If so, then there is a cluster of levels likely to provide support, starting at $54.3K. But $52.8K, and $50.8K are likely to hold after that. If Bitcoin has more strength, the next level is $59.4K, the last level before $60K. The Kovach OBV is solidly bullish, so the trend is definitely strong.
BITSTAMP:BTCUSDLong
by quantguy
Bitcoin Slips, Finds SupportBitcoin has slipped from relative highs at $57K, to test $55K. We are seeing support here from a green triangle on the KRI, and several green triangles before that, suggesting weakness in the bear bias of this retracement. We anticipate Bitcoin to hold support at $55K and potentially range further between this level and $57K. However, if we do break down, $52.8K and $50.8K are the next levels of support to the downside. We don't anticipate Bitcoin to give up the $50K handle any time soon.
BITSTAMP:BTCUSDLong
by quantguy
Can Bitcoin Hit $60K??Bitcoin has trended upwards, but is meeting resistance at $57K. It is currently holding a very narrow range between $56.9K and $57.7K. The next level above is $59.4K, which is the last technical level before $60K. We are seeing good support at $56.9K, but also resistance at $57.7K as identified by green and red triangles on the KRI, respectively. Watch for support below at $54.3K or $52.8K. The Kovach OBV is still very strong overall, but has leveled off to reflect the ranging.
BITSTAMP:BTCUSDLong
by quantguy