Bull Wedge in Bitcoin 📈🚀

10 Şub 2022

Bitcoin has made another run for relative highs, with 45K still an upper bound but providing strong resistance as confirmed by several red triangles on the KRI. We do appear to be forming a bull wedge pattern with 45K as the upper bound. The Kovach OBV has completely leveled off with the ranging. This suggests that we may range further, but if momentum builds, then we can anticipate a breakout to higher levels. We should see some resistance in the 45K-46K range, but 47.4K is our next target if we are able to break through. We should see support from 43.1K or 41.9K in the event of a retracement.