Bottom Near for Bitcoin??

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin has fallen deeply into the $20K's, but found support at $25.1K. We have subsequently rallied and appear to be attempting to claw back to $30K. We anticipated yesterday, that $28K was a target if we got some momentum, and we were able to meet and break that target. However, the $30K's appear to be giving us some resistance at $30.2K and $31.0K. The Kovach OBV has picked up notably. A swing of $5K is exactly what we would expect from crypto near a bottom. However, don't get caught in a 'bull trap' as we may press lower once more. If so, $25K should be considered a lower bound for now, however keep in mind, that on the daily charts there is a vacuum zone below to $19K, a strong technical and Fibonacci level.

Join my discord at https://discord.io/quantguy

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.