Bitcoin Consolidates. When is the Next Breakout??

٢٨ يناير ٢٠٢١

Bitcoin has consolidated, narrowing the range down to just over 3K. It is currently hovering between 28.5K and 31.6K. It appears to be forming a bear wedge pattern, or a triangle correction in the Elliott Wave. We should see a breakout soon either way. The Kovach OBV has completely broken down. It has retraced significantly from the bull run. If we do breakdown, the next major support level is 24.4K. There is certainly still hope for bulls as long as we are above 28.5K