BitcoinLong
Two Reasons Why Bitcoin May Rally
Bitcoin has pressed lower, but is finding strong support just below 60K. We are seeing quite a bit of support around 59.4K, confirmed by a cluster of green triangles on the KRI around this level. We are starting to see quite a bit of volatility here, which likely suggests that bull momentum is soon to return. If so, the next targets are 61.6K, 62.4K, and 64.3K. If the bear momentum continues, then we will have further support from 57.7K, 56.8K, and 55.7K. The Kovach OBV was pretty bearish, but has turned up sharply providing a second long signal in addition to the KRI.
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.