Bitcoin faced a sharp selloff at relative highs. We identified $43.8K as a key level, and barrier to higher levels in the $40K handle. Bitcoin appeared to make an attempt to break higher, but several red triangles on the KRI thwarted every attempt and confirmed resistance here. This pohibitive resistance amounted to a sharp correction, and we have fallen back to support in the 
41K's, currently testing $41.9K. We warned you earlier this week that the rally looked weak. We should see support hold from levels in the 41K's, but if not, the next level is $40.8K, then $40K. We will see how the weekend pans out and whether Bitcoin is comfortable in the $40K's or wants to make another run for the $30K's. If so, then $38K is a key level we are eyeing.
41K's, currently testing $41.9K. We warned you earlier this week that the rally looked weak. We should see support hold from levels in the 41K's, but if not, the next level is $40.8K, then $40K. We will see how the weekend pans out and whether Bitcoin is comfortable in the $40K's or wants to make another run for the $30K's. If so, then $38K is a key level we are eyeing.
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Join my discord at discord.io/quantguy
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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.