Bitcoin Edges Lower

2 nov 2022

Bitcoin has declined steadily from 20.7K. We appear to be forming a descending wedge pattern at the moment, but broader scale, this could be part of a bull flag. The Kovach OBV is relatively flat, so unless more momentum can come through, we will likely range at current levels at best. There is a vacuum zone below to 20K, then 19.5K, and a retracement could easily take us back to these levels.