Bitcoin has blasted through support at $34.9K, which we expected to put up a bit more of a fight as it is a major Fibonacci level on the daily. This is certainly a very bad sign for BTC , which careened through several levels below on the weekend. We will be putting out a longer term analysis on the daily chart later. But for now, we have broken $34K and are in a vacuum zone between this and $32.3K. The Kovach OBV is abysmally bearish , but we are starting to see some green triangles on the KRI suggesting perhaps the bleeding might stop soon, even if it’s just a relief rally.