Bitcon Ready to Break Out??

19 בינו׳ 2021

Bitcoin has been ranging but is forming a bull wedge pattern. The upper bound of the bull wedge pattern is 37.7K. Ideally, we would have a solid uptrend to give us confidence in a breakout but the Kovach OBV is very strong here suggesting a bottling up of momentum ready to break out. There is a vacuum zone to highs, with a brief stop at 40K which is now a psychological and technical level. If we are wrong, and it breaks down, watch for support at 33K.