quantguy

Bitcoin Struggles Amid Pressures

Short
BITSTAMP:BTCUSD   Bitcoin
Bitcoin is hugging lows at our new level at $19.5K. A strong dollar and recession fears seem to be weighing on cryptos. The Kovach OBV is bearish, but appears to be picking up slightly, which could suggest a bear divergence. We could easily make a run for $20.7K if caught a burst of momentum. However, technically BTC does look pretty weak and if $19.5K does not hold, then $18.6K is the next level below to provide support and is an expected floor price for BTC.

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