Headwinds for Bitcoin

26 במאי 2021

Bitcoin is inching back into positive territory, but it still faces massive headwinds from some strong levels that have proven to be difficult for it in the past. Thankfully, we appear to have bottomed out at 30K, but we still have a lot of ground to cover before retaining previous levels or encroaching upon highs again. We have a cluster of levels from 40K to 41.9K, with which BTC appears to be contending at the moment. The Kovach OBV has bottomed out but has also appeared to show signs of life again. However it will take more momentum than this to break upside resistance. Thus we anticipate Bitcoin to range at current levels until another buying wave.