When Will Bitcoin Bottom??

Jun 17, 2022

Bitcoin has slumped forming a bear wedge pattern at lows. The low of 20K seems to be providing good support for now, but the lack of buying interest is concerning. The Kovach OBV is picking up slightly, but we are seeing a lack of follow through in the price action. If we do cave further, we should have strong support from 19K, a major Fibonacci level on the daily charts. We expect this to be the bottom for BTC. If we do pick up, we must break 22K, then 23.9K is the next target.