Bitcoin Ranges. When to Buy Back??

Feb 3, 2021

Bitcoin has another meager breakout. This is great for bored HODLers who are waiting for the next breakout. However there does not seem to be as much momentum to this breakout as we'd like. Bitcoin has been holding a very large range between 30K and 40K. So even a 10% rally is not exciting. This will be more significant as we near all time highs, or even break 40K again. The Kovach OBV is very flat, suggesting that the momentum we saw from the end of last year has dissipated for now. Anticipate Bitcoin to maintain the 30K - 40K range. Any encroachment upon these boundaries should be taken as a mean reversion trade. Don't get scared if BTC tests 30K again, this will be a great buying opportunity. Other nice levels to buy include 31.6K, 33.6K, and 35.2K.