Bitcoin has taken another sharp turn lower in tandem with stocks. As discussed in the last report, we are currently seeing support at the base of the $40K handle, though we did break lower into the 
39K's albeit briefly. We did see nice support from $39.2K, confirmed by a green triangle on the KRI. However, we are not seeing the buy back that we would expect if buyers were enticed by lower levels. In fact, we are seeing very little pivot and barely reclaimed the $40K's. If we do pivot from current levels, expect strong resistance in the 
41K's. If we continue to dump, then $39.2K and $38.2K are likely targets.
39K's albeit briefly. We did see nice support from $39.2K, confirmed by a green triangle on the KRI. However, we are not seeing the buy back that we would expect if buyers were enticed by lower levels. In fact, we are seeing very little pivot and barely reclaimed the $40K's. If we do pivot from current levels, expect strong resistance in the 41K's. If we continue to dump, then $39.2K and $38.2K are likely targets.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.