Bitcoin suffered one of the greatest losses since 2017, losing over 40% of its value. At its lowest, it hit $30K, but was swiftly bought back to $40K. While it looks like we have a bull rejection pattern here, we thought we saw those the past few times Bitcoin appeared to have bottomed out only to press further by another $10K. No one knows for certain if it has bottomed out or if another wave of momentum will take us back to the $30K handle or lower. The Kovach OBV is very oversold, so at this point we are due for a rally even if it is just a short covering rally. Our next target, should momentum return, will be $45K.
Join my discord at discord.io/quantguy
Related publications
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.
Join my discord at discord.io/quantguy
Related publications
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.