Bitcoin Still in the Doldrums 🥱
Bitcoin has been in the doldrums all weekend. It has flatlined around 39.2K, which we have added as a new technical level. We are seeing resistance at this level currently, as confirmed by red triangles on the KRI. It has really shown a preference for the range we have called out many times in these reports: 38K to 40K. The only good news is that Elon Musk, crypto's self proclaimed cheerleader, has announced that he will not sell his crypto holdings. Bitcoin appeared to rally off this, after testing lows at 37.7K, which should be regarded as a floor for now. The Kovach OBV is pretty bearish, but if we do somehow gain steam, then we must break 40K before seeing higher levels.
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