Bitcoin has retraced much of the rally from $43.8K. It is finding resistance at $45K. We anticipated the selloff due to the fact that the rally was quite weak, largely driven by retail investors. It should find support at $43.8K, but if not, $43.1K is the next technical level of support. The Kovach OBV (blue indicator) is quite bearish, but may be starting to reflect that BTC is oversold. If this is the case, we can expect support at these levels.
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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.