Bitcoin Bottomed Out??

24 May 2021

Bitcoin looks like it has formed a double bottom at 30K. It is currently contending with some resistance at 36.4K. The Kovach OBV is bearish but looks like it could be starting to turn. If we can break resistance here in the upper 30k's, we will likely make a run for 40K soon. There is a small vacuum zone after the current patch of levels to 40K. If not, watch for support again at 30K, but after that, we would be heading for the 20K handle which is not a good sign.