Bitcoin Holds a Narrow Range
Bitcoin has established value just above the range it was holding after the selloff. Currently, we are trading sideways in a very narrow range between 47.4K and 48.2K. There is a vacuum zone above to 49.7K, but we do not appear to have the strength to test it, at least for the moment. The Kovach OBV appears dead for now, and it will take significant momentum to break through to upper levels. But 49.7K is the last major level in the 40K handle, the final barrier to the 50K handle. If we break down, we should see support from 46.2K.
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