Bitcoin Running into Resistance
Bitcoin has rallied over the past several days, but has faced resistance at our technical level at 36.7K. Here, we saw a swift rejection back to 34.9K but appear to be finding support at current levels. There is a vacuum zone below, back to the lower 30K handle. If BTC does not find support at current levels then we are headed back to 31K. Watch for it to consolidate at current levels potentially forming a bull wedge or flag pattern before breaking out higher. The Kovach OBV is strong suggesting we may have enough momentum in the tank at least to stave off that retracement discussed earlier.
Uwaga
Update: as discussed, Bitcoin rejected 36.7K, and has broken past the next level 34.9K. Looks like we may be forming an inverse head and shoulders pattern too. Look out below!
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