Bitcoin seems to have rejected higher prices for now, retracing back below the $40K handle. It appears that the $40K's were too much for BTC to hold for now, and as we suggested in yesterday's report, it found support exactly at $37.7K. Currently it is catching a bit of support confirmed by a green triangle on the KRI just above $37.7K. The Kovach OBV has started to drift downwards, but it does not indicate the momentum of a proper crypto dump. If we do see the selloff continue then $36.7K and $34.9K will provide further support. If we can see more momentum, then we should be able to regain the $40K handle.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.