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quantguy
May 17, 2022 10:52 AM

Bitcoin Holds the $30K's Long

Bitcoin / U.S. dollarBitstamp

Description

Bitcoin has found stability in the upper 29K handle. It has just now been able to recover 30K and is hanging onto this level by a thread. We do appear to be seeing a bull wedge forming and the Kovach OBV has been steadily climing, suggesting a breakout may be near, especially if we see a rally in stocks today. If we do breakout, then 32K is the first level to break before considering further resistance in the 34K's. If we retrace, we will have strong support from 27K and 28K.
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