Bitcoin has plunged after the news that Elon Musk will no longer accept Bitcoin at Tesla. However, it has good support at $48.2K, and appears to be demonstrating an inverse head and shoulders with a neckline at $50.9K. It definitely seems that Bitcoin is gearing up for a breakout to higher levels, $52.8K being the first target. Eventually, it should regain its former range from $52.8K to $59.4K. Current levels might be a great opportunity to add to a position, but further fallout could take us down to $46.2K if $48.2K does not hold. The Kovach OBV appears to be ticking up, suggesting the buyback had legs to it.
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