Can Bitcoin Break the Bear Trend??
Bitcoin attempted a 'scam' rally but fell short of our level at 59.4K. The fact that the Kovach OBV has not really picked up with the rally should have been an indication that we are not likely to continue into the 60K's any time soon. The broad range between 52.8K and 59.4K seems to be much more comfortable for BTC at the moment. Broadly, we could be forming a bear flag before another push lower. The last support level in the 50K's is 50.8K, before we will enter the 40K's. The first level here to provide support will be 49.7K If we do catch a bid, watch 59.4K as this is the level to break definitively before we can consider regaining (and holding) 60K's.
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