Bitcoin Ranging. When to buy??

25 Jan 2021

Bitcoin has been maintaining the 30K range for some time now. It is healthy for BTC to take a pause, since we were getting dangerously close to bubble territory. It really does not want to test the 20K's again, as any attempt at those levels gets bought back really quickly. Currently, we appear to have finished the corrective phase of the Elliott Wave wave, though we may be in for an extended sideways correction. If we see momentum come through, then we know we in wave 1 of the next 5-3 wave. The Kovach OBV has stalled so we can anticipate currently levels to hold. The levels 31.6K, 30.9K, and 30K are all buying opportunities. We will face resistance at 34.7K, 36.7K, and 37.7K.