Bitcoin Looking Weak
Bitcoin is maintaining the narrow range between 34.9K and 38.2K. We saw great resistance from 38.2K with several red triangles on the KRI indicating resistance every step of the way as we made an attempt for upper levels on Wednesday. The Kovach OBV is completely flat, suggesting that we will need momentum to come through either way before it makes its next move. We should have support from 32.3K if we dump further, then 31.0K, and 30.2K. If these don't hold, then we may see an attempt for our target of 29K. If we are able to muster a rally, then 38K is the level to break before we can consider 40K again.
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