As predicted yesterday, bitcoin broke out to make new highs. There is strong optimism off of this new Bitcoin ETF, which has bled into the entire crypto market. At this point, Bitcoin has retraced just a bit, finding support at the next level down, $64.3K. The Kovach OBV is strong but has tapered. At this point a technical retracement is due, which could take us to lower levels in the $60K handle. If these don't hold, $59.4K and $57.7K should hold. The bull trend is very strong, however, so we could see new highs again today. If so, our next target is $68.6K.
Note
As predicted, Bitcoin retraces, but is finding support in the low $60K's
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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.