Bitcoin has broken through the support our trendline has been providing since the beginning of this month. We saw support at $47.4K, which is a strong technical level that has provided support prior. We are seeing several green triangles on the KRI to confirm support here. The Kovach OBV has dropped off significantly, but is drifting slightly upwards, suggesting that the malaise in Bitcoin is likely to continue. BTC traders can attest that trading has been choppy, with low liquidity and bot domination making scalping quite difficult. We will need to see more momentum come through either way before BTC makes its next move. Currently, $45K appears to be the floor, and $50K appears to be the high. We must break $50K before considering the long journey back to the $60K handle. At this pace, that does not seem likely before the year's end.
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