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Recession Fears Impact Bitcoin

Bitcoin sold off with stocks, testing the lower 20K's. It is hanging onto the 20K handle by a thread. Despite the stock selloff, we were starting to see increased resistance in the low 20K's confirmed by red triangles on the KRI and were unable to test even the first level of the 20K's at 22.4K. The Kovach OBV has slumped, suggesting we will not make another attempt any time soon. If it dumps further, then we should see support at 19K with a floor at 17K. If we are somehow able to break 22.4K, then 23.9K is the next target.

quantguy

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