Bitcoin appeared to be making a nice run for a technical level at $34.9K but fell just short of this and broke through $34.0K. We feel a good pump may be near. There is a divergence between the Kovach OBV and the price action (identified with red arrows). Additionally, Bitcoin has been ranging in the $30K's for an uncomfortably long period. Many pundits have been calling for the $20K's or lower, and we simply have not seen that. The crypto market is really good at rejecting the ideas of would-be analysts. If we do build some momentum watch $36.7K, and if we break current levels solidly, then $32.3K should provide support.
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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.