quantguy

Bull Wedge in Bitcoin

Short
BITSTAMP:BTCUSD   Bitcoin
Bitcoin is edging up forming a bull wedge pattern with an upper bound of $21.7K. We are seeing lots of red triangles on the KRI to confirm resistance, but if we can break through the next target is $22.4K. The Kovach OBV is pretty flaccid if not slightly bearish, so there is a slight bear divergence. We should have support at $20.7K, but if not there is a vacuum zone down to $18.6K, a previous value area.

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