Another Dump for Bitcoin??

May 20, 2022

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.