Bitcoin Rallies, Faces Resistance

13 янв. 2022 г.

Bitcoin has caught a lift from the low 40K's and is currently maintaining a very narrow range around our level at 43.8K. There is a vacuum zone above to the next level at 45.0K. The Kovach OBV has leveled off for now, suggesting that momentum has waned for the moment. We do appear to be meeting resistance just above 43.8K confirmed by three red triangles on the KRI. The rally does appear pretty weak, so we will see if this is just a relief rally into a bear trend, or if the momentum can continue to 45K. If so, this is the next level to break before we can consider 50K again. From below, we have 43.1K, 41.9K, and 41.6K to provide support.