Bitcoin has continued the breakdown from its head and shoulders pattern, hovering just above our target of $32.3K, currently holding support at $32.9K. The Kovach OBV has dropped sharply with the breakdown, but is gradually drifting up suggesting that we may equilibrate around these levels. The upper bound should be $34K for now, which has served as a barrier to BTC in the past. Although we seem to have a new level at $32.3, we are otherwise in the middle of a vacuum zone between $31K and $34K, so broadly BTC should range in this area, but if we do pick up steam, we $36.7K is our next target.
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.
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.