Bitcoin Retraces from $40K

٢٨ فبراير ٢٠٢٢

Bitcoin rallied from lows from the Ukrainian conflict selloff. Over the weekend, we were able to test 40K, but several red triangles suggested resistance here, and we promptly retrace deeper into the 30K handle yesterday. We are seeing support at 36.7K from a green triangle on the KRI. The Kovach OBV is not convinced of a rally however, as it is completely flat. If momentum picks up, we should expect resistance at 40K again. Current levels appear to be holding but if 36.7K breaks, there is a vacuum zone to lows at 34.9K.