Bitcoin Breaks Down

Bitcoin appeared to be getting good support at 39.2K, but has pressed lower. It broke through this level finding support just above 38.2K. We did see strong support confirmed by a green triangle on the KRI, however the price action does look pretty weak at the moment. Though we did see strong support, we are still not seeing further momentum come through. We are still under the 40K level and this will provide resistance. The level 38.2K should hold, otherwise 37.7K is the next level of support.