Bitcoin Rejects $50K... Again 🤦♂️
Bitcoin edged up over the weekend, but the rally was paltry with respect to what we can expect for a proper crypto pump. At 50.8K we are seeing strong resistance, and swiftly dumped from this level back to comfort in the high 40K handle. Although 
48K seems to be providing support at the moment, the next level below 47.4K has provided strong support in the past. The Kovach OBV shows no sign of life. It briefly picked up with the small rally, but has completely flatlined, suggesting that we won't see much action outside of the narrow range between 47.4K and 50.8K until more momentum comes through. Trading is still very choppy with low liquidity so be careful.
48K seems to be providing support at the moment, the next level below 47.4K has provided strong support in the past. The Kovach OBV shows no sign of life. It briefly picked up with the small rally, but has completely flatlined, suggesting that we won't see much action outside of the narrow range between 47.4K and 50.8K until more momentum comes through. Trading is still very choppy with low liquidity so be careful.
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