Two Ways to Trade the Bitcoin Meltdown!!
Bitcoin has melted down as looming US regulation and a China crackdown weigh in on the price. We have breached the 60K handle, but found strong support from 59.4K. Readers should be very familiar, and we hope you were prepared. The Kovach OBV has turned sharply bearish, but is starting to look oversold, indicating that this could be a good place to buy back. Just watch to see how the price action deals with these lower levels. We could form a bear wedge from here, before dumping lower. If that is the case, then we should see continued support at 57.7K, 56.8K, and finally at 55.7K. If we do find support at current levels, then 61.6K is the next target.
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