Bitcoin Ranging

Bitcoin continues to range after finding support at a cluster of levels in the $45K to $46K range. It is clearly seeking to establish value after the dump from the $50K handle. This is a rather narrow range for Bitcoin, so we may anticipate a breakout soon. The Kovach OBV is trending up slightly, which could signal a bull divergence and thus perhaps a bull breakout is to follow. Watch $48.2K for the next target if we do see a bull breakout. We appear to have good support from lower levels but if these don't hold, we will see support at $43.8K