Bitcoin Slammed Back to Relative Lows

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

quantguy

Bitcoin took another dive after flirting with the $45K’s. We were encountering choppy trading with thin volume and the Kovach OBV has completely leveled off confirming the ambivalence. We do appear to be seeing support just below $45K, but if this does not hold, there is a vacuum zone back to $43.8K. We will have further support around $42K and $40K if the selloff continues. If we are able to pivot from current levels, then $$47.4K is the next target.

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