Bitcoin Rejects $50K!! 😨
Bitcoin has retreated from highs in the lower 50K handle back down to the 
49K's. Although it has rejected 50K, it is still showing a clear affinity for higher levels. We are just below the support level at 49.7K. If we break through this we will be testing 50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very strong level at 48.2K, then a vacuum zone below back to the mid 40K's, so keep this in mind if momentum does not come through. The Kovach OBV was strong but has since rounded off suggesting that BTC is giving pause for the moment.
49K's. Although it has rejected 50K, it is still showing a clear affinity for higher levels. We are just below the support level at 49.7K. If we break through this we will be testing 50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very strong level at 48.2K, then a vacuum zone below back to the mid 40K's, so keep this in mind if momentum does not come through. The Kovach OBV was strong but has since rounded off suggesting that BTC is giving pause for the moment.Nota
Bitcoin finding support at 48.2K, exactly the level we identified this morning!!
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