Bitcoin fell deeper into the $20K's last night. It found support at $25.1K, our exact level, before finding support and pivoting back to the $28K's. At this point, $30K should be a barrier, which was unthinkable for some, even a few days ago. The Kovach OBV is abysmal, and registers the most extreme of sold off conditions. A relief rally is to be expected and we will see if the bounce we got back to $28K is all we are going to get. If we do see some momentum come through then we must first break $30K, then $32.3K is the next target. If $25.1K fails to hold, then the next targets below are $22.4K and $20.7K. We have a major low and Fibonacci level on the daily chart at $19K, which we expect to be the bottom, should the selloff continue.
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