Bitcoin has rallied yet again, further solidifying the $50K handle. We blasted through resistance from $54K, and finally paused for air, at $55.7K, one of our technical levels. We are getting support from $54.3K as confirmed by a green triangle on the KRI. Bitcoin is quite strong right now, and the Kovach OBV confirms this. We are due for a technical retracement, so watch for levels in the lower $50K handle to provide support. The next levels below are $52.8K, then $50.8K. We will have to break through $55.7K and $56.8K to continue the rally.
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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.