Bitcoin Ready to Breakout??
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Bitcoin has made another run for lows in the mid $30K’s. We found good support at $36.7K, confirmed by a green triangle on the KRI . The Kovach OBV is still bearish , but does appear to be leveling off. We are seeing an inverse head and shoulders type pattern in Bitcoin with a “neckline” around $38.9K. If this is the case then a breakout could easily take us back to the $40K’s, but we might need some fundamental driver like the situation with Russia to improve. If we are able to break out, the first target is $40.0K. If we reject current levels then $36.7K should hold.
