quantguy

Bitcoin Breaks Out, Immediately Faces Resistance

Long
BITSTAMP:BTCUSD   Bitcoin
Bitcoin has broken out from the range between $59.4K and $62.4K. We alerted you as to the upside bias in cryptos yesterday. Currently, we are feeling out the middle of the range between $62.4K and $64.3K. We are seeing a red triangle on the KRI suggesting there is some resistance forming. The Kovach OBV has picked up notably, so watch for $64.3K as the next target. If we can breakout further, $66.3K is the next target. From below, we have plenty of levels of support including $62.4K, $61.6K and $59.4K.

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