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Momentum Back for Bitcoin??

After some initial weakness, Bitcoin broke out from our corrective Elliott Wave impulse and breached a significant level at 57.7K. It met some resistance at 59.4K, which we have added as a technical level. Currently, 57.7K is providing support. The Kovach OBV is still relatively strong but has leveled off. From here it could go either way, we could see a breakdown back to 55.7K. A breakout would take us back to highs at 61.5K.

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Lack of Momentum in Bitcoin

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