Can Bitcoin Hold $40K??

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.