Bitcoin Ready to Breakout??

٢٣ فبراير ٢٠٢٢

Bitcoin has made another run for lows in the mid 30K's. We found good support at 36.7K, confirmed by a green triangle on the KRI. The Kovach OBV is still bearish, but does appear to be leveling off. We are seeing an inverse head and shoulders type pattern in Bitcoin with a "neckline" around 38.9K. If this is the case then a breakout could easily take us back to the 40K's, but we might need some fundamental driver like the situation with Russia to improve. If we are able to break out, the first target is 40.0K. If we reject current levels then 36.7K should hold.