Bitcoin Holds the Range… For Now

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

quantguy

Bitcoin is ranging safely in the $38K’s. We made a brief attempt at $40K again which was quickly batted down. Resistance at this level is confirmed yet again by a red triangle on the KRI . We appear to have strong support from $37.7K, with this level holding strong after an attempt to test lower levels. If these levels do not hold, watch the vacuum zone to $36.7K. From above, $40K seems to be a prohibitive barrier, but if we can break through the next target is $40.8K then $41.6K.

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