quantguy

Bitcoin Breaks Support

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BITSTAMP:BTCUSD   Bitcoin
Bitcoin has broken down through support at $23.9K. We have been teasing this level for a while now, and finally broke through. We anticipated lower prices, as several attempts at higher prices, including $25.1K have failed swiftly. We are currently in the vacuum zone above $22.4K. The Kovach OBV has slumped, indicating that momentum has petered out for now. We need some buyers to return to the table before anything significant happens. If so, $23.9K and $25.1K should provide steep resistance. From below $22.4K should provide support.

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