Bitcoin has retreated from highs in the lower $50K handle back down to the $49K's. Although it has rejected $50K, it is still showing a clear affinity for higher levels. We are just below the support level at $49.7K. If we break through this we will be testing $50.8K, which was the previous level of resistance from which bitcoin retreated. We have a very strong level at $48.2K, then a vacuum zone below back to the mid $40K's, so keep this in mind if momentum does not come through. The Kovach OBV was strong but has since rounded off suggesting that BTC is giving pause for the moment.
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Bitcoin finding support at $48.2K, exactly the level we identified this morning!!
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