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Bitcoin Rejects $30K Again!

Bitcoin has edged higher with the stock market rally, but faced strong resistance in the low 30K's, immedately rejecting back down to 29K. We noted red triangles on the KRI during yesterday's rally, suggesitng that it was encumbered by resistance, and did not have the momentum to continue. Range trading, playing the upper and lower bounds of the value area between 27.9K and 31..0K seems to be the best bet for now, as this range has held for more than two weeks, with the exception of a brief foray testing 32K. The Kovach OBV is almost completely flat, suggesting we need serious momentum to come through before we can hit higher levels.