Short

Bitcoin Breaks Lower & Tests Support at 16000 - Top Formed?

Bitcoin drop from sub 20000 levels and breaks below immediate trend line support and also takes out/tests support at sub 16000 levels. We are not speculating on a potential impulse drop at the moment but at least expect a corrective rally through 18000 levels to meet fibonacci 0.618 resistance levels of the drop between 19200/300 through 16000 levels. High probability trade suggests to go short around 18000, stop above 20000 and target 10000.

Good luck!

Sincerely
Harsh

harshjapee

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