Bitcoin got smacked back down to support at $37.7K, which held and we are currently seeing a brief bounce off this level to test $40K. We are seeing a red triangle on the KRI forming at $39.2K, the last level in the $30K's. The Kovach OBV is very flat, and the Chande is at highs, suggesting a retracement from this level back to $37.7K is highly likely unless we catch a strong bid, which perhaps might follow a rally in stocks if we see one today (which is also somewhat unlikely). Even in this case, we anticipate resistance at $40K, with $42K a ceiling for now.
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