$40K Barrier for BTC Bulls

Bitcoin has rallied almost 30% since it touched lows at 31K. All it took was another tweet from Elon Musk, changing his stance on accepting Bitcoin payments yet again. We are currently back up to just under 40K, which we have pointed out in these reports to be a significant barrier for BTC. We are likely to continue to meet resistance here and potentially retrace back to 37.7K. There is a cluster of levels above 40K which are bound to provide more resistance before the next vacuum zone to 45K. The Kovach OBV has picked up notably so this is a good sign for BTC bulls.