Now we get find out how this story ends. Is it going lower? Or are we ready to march towards $30k?
The case: We want to see bitcoin 7.28% meander and continue to make attempts at at the $16k mark. Crypto loves to form triangles, so an here that breaks up with some would be ideal and I'd add back my long position.
The case: We start to fall from here with momentum. If we get back down below that $14500 mark which is short term support, then expect us to start knocking on the $12k door and we don't bounce, then it could get ugly.
At this point its 50-50. Hard to gauge the market on a holiday as we basically just slowly went sideways. If big players decide they want to get out of bitcoin 7.28% at this level, the failure to break could bring on more aggressive selling.
Let's hope $16k breaks up.