Bitcoin DUMPS again!! Will $40K Hold??

Bitcoin has continued to sell off, reaching lows at around $40K exactly as we anticipated. If this does does not hold then we are clear to test the $30K's with $38.2K as a target level. This is derived from Fibonacci levels on our longer term outlook on the daily chart. This is a significant level, as the next major Fibonacci level down from here is at $29K. We should see support start to form if we are to stop the bleeding into the $30K's or $20K's. We did see a sharp bounce from $40.8K, but we were only able to recover to $42K or so, which suggests that these lower prices in the low $40K's were still not enticing enough for potential buyers. The Kovach OBV is still hugging lows, barely flinching with the pivot. It seems like we are still in need of a 'fire sale' to stoke buying interest in BTC. If we do see buying interest form later today, then $43.1K and $43.8K are the next targets.