Bitcoin Finds Support

Bitcoin has further retreated from 40K, which seems a hard upper bound at this point. We anticipated support from a cluster of levels around 37K and that is exactly what we are seeing thus far. From here it could go either way, we could test resistance above at 40K again, or retrace further to support at 30K. Both have proved to be consistent boundaries for BTC for now, so we anticipate this to remain the case unless some momentum comes through either way. The Kovach OBV is in the doldrums so we can't ascertain much from these technicals.