Bitcoin Meets Resistance

١٦ فبراير ٢٠٢٢

Bitcoin has made an attempt at a rally, but several red triangles on the KRI have suggested resistance. We seem to have topped out just below our level at 45K for now. The Kovach OBV has quickly leveled off as we encounter resistance. It appears we are in a broad sideways corrective pattern after a large rally took us back to the 40K's again from the high 30K's. If we retrace further, we should see support at 41.9K and 41.6K. If we catch another burst of momentum, we will surely encounter resistance at 45K, then 45.6K, then 46.2K. If we are able to clear these levels the next target is 47.4K, but based on the price action and momentum, this is not likely for now.