$50K Bitcoin!! What's next??

16 Feb 2021

You read it here!! Bitcoin has reached 50K!! It bounced off the lower bound of the channel, achieved highs at 50K, then retraced a bit. It has been holding the bull channel for just over a week now. We are not seeing much momentum here near highs. We will need momentum to punch through to solidify new highs again. The Kovach OBV is completely flat. This suggests that a retracement is near, which should definitely be considered a buying opportunity. The levels 45K and 45.6K seem to be pretty strong levels of support below. If not there is a vacuum zone down to $41.9 which should be considered a bargain. The next target is $52.8.