The Truth About the Bitcoin Rally

Bitcoin has pushed through resistance in the 43K's to hit our target of $45K solidly reestablishing value in the $40K handle after spending quite a bit of time in the $30K handle. The Kovach OBV has turned bullish, but does not quite match the strength of this rally, and appears to be suggesting some weakness. If that is the case, then we expect support from two levels in the $43K's, then there is a vacuum zone to the $41.9K. If momentum continues, we will see resistance between $45-46K, but if we can break through this, then the next target is $47.7K.