Bitcoin has taken another sharp turn lower in tandem with stocks. As discussed in the last report, we are currently seeing support at the base of the $40K handle, though we did break lower into the $39K's albeit briefly. We did see nice support from $39.2K, confirmed by a green triangle on the KRI. However, we are not seeing the buy back that we would expect if buyers were enticed by lower levels. In fact, we are seeing very little pivot and barely reclaimed the $40K's. If we do pivot from current levels, expect strong resistance in the $41K's. If we continue to dump, then $39.2K and $38.2K are likely targets.
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