Bitcoin Weakness 📉

Bitcoin has slumped, but is still maintaining the range it has held for the past two weeks. The 30K's have remained a barrier for BTC, and we have tested lower levels at 28.8K and 27.9K several times. Yesterday, things started to look pretty gloomy, but 27.9K was able to provide support and we have since equilibrated. But highs are lower, and the Kovach OBV is tapering downwards, suggesting that if we do not see more momentum come through, we could break down again. If so, expect support at 25K, the low of the previous selloff. If that does not hold, we are clear to test the lower 20K handle. At this point, 30K is a significant barrier, but if we can break through, 31K is the next target with 34K an absolute ceiling.