Buying the Bitcoin Breakout

29 ม.ค. 2021

Bitcoin has finally broken out of what appeared to be a bear wedge pattern. This is why the previous trend is so important in determining the direction of the breakout. It is currently facing resistance at 37.7K, which is a significant level that we have identified beforehand. Watch for a retracement here. Depending on how conservative you are, you can look to Fibonacci levels below to buy back. The levels 36.8K, 35.2K, 33.6K are all perfectly valid candidates. The Kovach OBV has been bearish with BTC but it does appear to finally be picking up