Bitcoin has just about fully traversed the range back to highs, from lows at support at $46K. It has stalled out just below $50K, teasing us again by playing this range. Until we get a breakout from $50K, we are unconvinced that bull momentum has fully returned to the market. Watch for support at $49.7K and $48.2K. Also recall that there is a cluster of levels to provide further support in the $45K-$46K range. The Kovach OBV has leveled off, suggesting momentum has petered out for now, and we are unlikely to break $50K any time soon.
Join my discord at discord.io/quantguy
