Bitcoin Pivots! Is this the Bottom??

14 giu 2022

Bitcoin extended its decline all the way down to 20K. We fell down to our lower level at 20.7K exactly, before we finally got a pivot back to 22.4K, where we are establishing value now. This is exactly the type of pivot we would expect from crypto at a relative low. It is unlikely that Bitcoin will dump much further, for now at least. But the Kovach OBV is still abysmally bearish and resistance at 22.4K seems to be holding strong. There is an FOMC event tomorrow, so the markets are likely to be quiet, and we can expect BTC to range a bit, establishing value before the event.