Bitcoin Rallies, Establishes Value
Bitcoin roared on Friday, smashing through 45K, which was previously a hard upper bound. We peaked up as high as the low 
49K's, before retreating to support at 47.4K. It is maintaining a very narrow range at this point. If we do not have the strength to maintain these higher levels, we can expect to reestablish the 40K-45K range. It will take some momentum to break through the value area currently established, and we must break 50K solidly to establish a bull trend again. The Kovach OBV has picked up notably, but has begun to level off as Bitcoin establishes value
49K's, before retreating to support at 47.4K. It is maintaining a very narrow range at this point. If we do not have the strength to maintain these higher levels, we can expect to reestablish the 40K-45K range. It will take some momentum to break through the value area currently established, and we must break 50K solidly to establish a bull trend again. The Kovach OBV has picked up notably, but has begun to level off as Bitcoin establishes value
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.