Bitcoin has edged up after testing lows, barely piercing into the $30K handle for the first time since 2021. This dip was quickly bought up, and we returned to the value area between $40K and $42K or so. Currently, we have edged up past the vacuum zone after $41.9K to test $43.1K from below. This is a very meager rally for Bitcoin, which in times of intense buying can span $5K easily. We are seeing some formidable resistance from $43.1K, and the Kovach OBV has leveled off. Several red triangles on the KRI are confirming the resistance. Thus, it is likely that we will retain the range and establish value between $41K and $43K, edging the bar ever so slightly. If we catch more momentum, then we must break $43.8K, then $45K before we are able to see higher levels in the $40K's and consider testing $50K again. Based on the current momentum observed, this is not likely any time soon.
Comment:
Bitcoin edging up to test $43.8K!
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