Bitcoin showed signs of strength, breaking through our target at $20.7K and making a concerted effort for the next target of $22.4K. However, we met stiff resistance around $21.4K and immediately retraced. We are seeing support at $20.7K, which once provided resistance, confirmed by green triangles on the KRI. The Kovach OBV has slumped, suggesting the bull run has receded for now. We are seeing a general (weak) bull rally, but this can easily be retraced if support breaks. If this is the case, note the vacuum zone below to $19.5K. If momentum can reignite then $22.4K is our next target.
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