Bitcoin Rejects $40K

Bitcoin caught a lift to 40K but immediately rejected this level and is hovering back at support at 36K. This appears to be providing good support at the moment, but if it does not hold, beware of the vacuum zone down to 30K. The Kovach OBV is still very weak and appears to have turned over with this selloff, so the bear momentum here is still dominant. We must contend again with 40K if we catch some bull momentum, and BTC is clearly not comfortable leaving the 30K handle yet.