next support is at the wick at 16378 , then if that fails its down to 15700
Note
A look at the chart below shows the Green yellow and Red lines have acted as support since Feb 2019 
Note
BTC has fallen below the support at 18600 which is the red line and can drop to the next strong support area which is at the 15700 area.interestingly BTC has acted similarly to the move that occurred in march 2020 ,
as BTC has first tested the yellow resistance line , been rejected and now fallen below the red support line at 18600 .
If BTC is now unable to close back above 18600 then the next support down will be 16378 followed by 15700 .
Note
This means stop loss should be set at below the wick at 16200 (as BTC can also capitulate to 12k ) and longs should be executed if BTC closes above 18600 or 18800 for good measure.
Note
Bulltrap setups ===================
Note that this setup was also a bulltrap as under wyckoff BTC should have first touched the 17k to 16k before moving up - however BTC skipped that step and instead moved up.
Similarly with ETH:
ETH skipped the move to 1055 and instead moved up .
similarly with XRP :
Note
ADA also acting suspiciously ...shady behaviour-----------------------------------------------------------------------
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.