Bitcoin has found support just above our level at $52.8K, but is edging lower. We appear to be forming a bear flag or bear wedge. However, this could also just be a sideways consolidation pattern as bitcoin feels out the new range established by the massive selloff last weekend. Expect for it to remain within $52.8K and $57.7K. We expect some support from lower levels, so expect a lift even if it is transient. The Kovach OBV is somewhat oscillatory, so we need to wait for more conviction before we get a breakout either way.
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