Bitcoin has taken another nose dive. We appeared to be finding good support in the $34K handle, but a sharp selloff took us down to support just above $32K. We are just $3K away from our final level of support at $29K (see the longer term analysis linked to this article). This is the bottom anchor of our daily Fibonacci levels. If we break through this, recall that the next level of support is around $19K. If we are able to see a relief rally, the next targets are $34K and $34.9K, with a likely ceiling at $36.7K. The Kovach OBV is still abysmally bearish, and keeps edging further down, confirming the selloff.
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