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quantguy
Nov 2, 2022 10:05 AM

Bitcoin Edges Lower Short

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin has declined steadily from 20.7K. We appear to be forming a descending wedge pattern at the moment, but broader scale, this could be part of a bull flag. The Kovach OBV is relatively flat, so unless more momentum can come through, we will likely range at current levels at best. There is a vacuum zone below to 20K, then 19.5K, and a retracement could easily take us back to these levels.
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