Bitcoin has picked up slightly, and has been able to barely sustain 30K. We are continuing a range between 28.8K and 31K. The Kovach OBV has flatlined, suggesting that this ranging will continue until we have more buying momentum come through either way. However, from experience, if there is such little buying interest as such bargain levels (respectively), then we are probably in for another dump. We should find support at 27.9K, but after that, there is a vacuum zone down to 25K. If we are able to break out then expect resistance at 32K then 34K.
Next leg down could be back to ca. 20k USD to retest prev. ATH again, on the backdrop of the US FEDs gonna continue with their rate hikes and coupled with global uncertainties. XD
quantguy
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@cybernetwork, yeah that's a really good point. I have the next major Fibonacci level for BTC around 19K. If we break 25K that should be realistic.