Bitcoin Trends Downward
Bitcoin has trended downwards, after attempting a 50% retracement of the selloff from mid September. We are currently finding support at 41.7K, just above the last two key levels of the 40K handle. Some green triangles on the KRI suggest that we are getting some support here, and may see an uptick soon. Both Kovach Momentum indicators (blue and purple lines at the bottom of the chart) are extremely bearish suggesting that we are oversold and due for a bounce.
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