Bitcoin Testing $40K
Bitcoin / U.S. dollar BITSTAMP:BTCUSD
Bitcoin appears to be finding support at $37.7K and $38.2K. We are currently making a run for $40K, but this seems to be a barrier for now, as we identified in yesterday’s report. We are seeing several red triangles on the KRI to suggest resistance. The Kovach momentum indicators suggesting that momentum is edging up, but it remains to be seen if it will be sufficient to break $40K. It seems to depend on what stocks do today. If there is another selloff, we expect $37.7K to hold as a floor. If we are able to break $40K, then we will surely face resistance around $42K.
