Bitcoin made another run for lows, but has stubbornly refused to break the $40K handle. It found good support around $40K, then quickly established value around $42K. We are seeing lower lows, however, indicating that we are still in a bear trend. Current levels would be a good place to start accumulating a position, but be advised that we could see another dump. The more Bitcoin feels comfortable with the lower $40K handle, the higher the probability it can break through to the $30K handle. The Kovach OBV is still quite bearish.
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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.