Weakness in Bitcoin

Bitcoin has dipped to the $43.8K, one of the lower levels in a cluster of support levels in the lower $40K handle. We are clinging to support here, but Bitcoin is looking very weak. The price action seems to be 'rounding off' as illustrated by the curve above. We should find support at $41.9K, or at worst $40K. Our support levels mentioned align nicely with the Fibonacci levels: $43K is the 0.500, and $41.9K is roughly the 0.382 level. The Kovach OBV is gradually tapering down, so unless we see another burst of momentum we can expect more weakness.