Bitcoin Tests $42K

Bitcoin / U.S. dollar BITSTAMP:BTCUSD

quantguy

Bitcoin rallied in perfect correlation with stocks. As predicted, we are seeing resistance around $42K. If we are able to break through there is a vacuum zone above to $43.1K. The Kovach OBV has picked up, but has leveled off indicating that momentum has petered out for now. We should see support at the low $40K’s if we retrace. As an absolute floor we expect $39.2K to hold at least for now.

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