Slight BTC Retracement, Still HODLing

4 maj 2021

Bitcoin is broadly trending upwards, but has caught a bit of a retracement. We are seeing support from 54.3K, and further from 55.7K. This is likely a brief technical retracement, so we should not see too much more fallout but if we do, 52.8K is likely to provide good support. Recall that the min lower bound here is 48.2K. Our current barrier to break is 59.4K, just below the psychological 60K barrier, which will take some momentum to break through. The Kovach OBV is strong overall, but has dipped slightly during this latest retracement. Currently, there isn't much comparative momentum for BTC, so we are likely to hold the range and test the technical levels drawn here.