Bitcoin is continuing to range between $48.2K and $50.8K. We are seeing a slight bearish trajectory here, and the Kovach OBV is arching downwards confirming it. From a broader perspective we are in a slight uptrend, getting support from a trendline andchored at lows at $45K. The technicals overall seem bearish. That rally from the selloff on December 4th seems very weak and the Kovach OBV is suggesting a bearish divergence. However, this being crypto we could see a large buying spike come in out of nowhere washing out weaker short positions. Otherwise, it seems likely for Bitcoin to hold the current range or dump to support at $47.4K or $45K. If we are able to break out, then we must break through $50.8K before we can consider solidifying the $50K handle again.
Comment:
Bitcoin dumping to first level of support below at $48.2K! Let's see where this goes! 🍿
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