Bitcoin has stabilized in the $30K's and appears to be forming an inverse head and shoulders pattern with a neckline at our newly identified level at $34.9K. This level does seem to be a max upper bound for BTC for the moment, but if we are able to break out then $36.7K or $37.7K will be the next areas of resistance before $40K. Based on Bitcoin's performance in recent weeks, we should not be too ambitious for it. However, the Kovach OBV is trending up, which is a good sign for a breakout to the levels mentioned above.
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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.