Bitcoin Breakout Timeline

Bitcoin has rallied substantially, crossing through a few Fibonacci levels from this last report. It looks like we were really making a run for 39K, but retraced to find support between $36.7K and $37.7K. The Kovach OBV is picking up, but we are not seeing the drastic spike we usually see when BTC moons. We will most likely face some resistance here, and range for a bit. We've been pretty clear that Bitcoin is broadly in a ranging phase, a sideways corrective wave. It is not likely to break out any time soon. Watch it form a bullish consolidation pattern, testing highs a few times, before breaking out again. We can expect new highs next week or the week after, assuming we still have momentum. If not, lower levels at $35.2K, $33.6K, and $31.6K will provide support. We are still solidly bullish (long term) even if we hit $28.5K.