Bitcoin plummeted off global recession fears and a strong selloff in stocks. We have completely given up the $40K handle for now, but are finding support at $38.2K. The Kovach OBV is abysmally low, and hugging a lower bound, after turning sharply south with the selloff. We do appear to be getting good support from current levels, but if we are able to break through, then $36.7K is the next level where we anticipate support. BTC does appear to be oversold, so a short trade would be FOMO. If we pivot, expect resistance from $40K.
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