Bitcoin Slumps, Shows Little Bull Conviction 🥱
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Bitcoin has slumped, but found support at $43.1K, exactly as we have predicted in these reports. Bulls were hoping for a stronger pivot , but what transpired was quite flaccid. We were unable to break the next level at $43.8K, a meager $700 away. The Kovach OBV has flatlined after dropping substantially. This means we need to see momentum come through either way before something interesting happens. However, the price action is looking quite weak. At this point we could test levels in the $41k-$42K range, with a lower bound at $40K. If we break out, our next target is $45K again
