How to Trade the Bitcoin Selloff

Bitcoin dumped at highs, but has found support exactly at the levels we identified yesterday. In particular, we saw good support at $64.3K, even though the wick on the selloff candle brought us down to $62.4K or so. The Kovach OBV is oscillatory, so we anticipate some ambivalence here. Watch for resistance at $66.3K then $68.6K. The crypto market was starting to become overbought so a selloff was to be anticipated. This is a minor retracement in terms of how voraciously Bitcoin has dumped in the past, so current levels may present a buying opportunity.