Bitcoin Holds a Narrow Range

As predicted yesterday, Bitcoin had prohibitive resistance at $19.5K, and was not able to even test the $20K's. There are numerous red triangles on the KRI suggesting that every attempt to do so was thwarted. We are currently testing $19.0K, the next level down, which we anticipated yesterday as well. So far it looks like this level is holding and if so, expect Bitcoin to drift between $19.0K and $19.5K, which is a very narrow range. Almost a $Billion worth of Bitcoin was taken off one exchange, which will result in a lack of liquidity and supports our idea of a slow drift until more signficant momentum can come through. We expect $18.6K to hold as a floor for now, with $20K as a ceiling.