Bitcoin Holds Support

Bitcoin is finding support in the mid 50K's. We have tested 55.7K several times, and appear to be forming a bear wedge at this level. We have not been able to muster the strength to break through resistance in the high 50K's to test 60K again, which suggests that Bitcoin will remain in the 50K's at least through the Thanksgiving Holiday in the US. If we break down from current levels, then 54.3K is the next target. The Kovach OBV has been quite bearish, but has leveled off suggesting that Bitcoin is content with current levels for the moment. We will see resistance from 57.7K, then 59.4K if we catch a bid.