Bitcoin reached $59.4K, before a sharp retracement brought it back down to $57.7K. We do seem to be finding support here, but a further retracement could easily bring us to $55.7K or $54.3K. This is not the momentum we anticipate on a proper crypto moon. It seems that Bitcoin is complacent at maintaining the range between $50K and $61.5K for the time being. In the broader sense, we are definitely in a sideways correction pattern and this is likely to continue until some momentum builds. The Kovach OBV is very gradually picking up steam but again, this is nothing significant with respect to what we have seen for Bitcoin.
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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.