Daily Bitcoin Update - Will key support level hold $16572

Dec 17, 2022

Afternoon all,

Remember to BOOST

Full TA in the video as usual. Some notes:

- Further break down from the pattern
- Bearish retest confirmed
- .618 golden fib acting as support
- Limited trading volume under this level so if the price does break down i am expecting a quick move down to 16300 area
- Bullish scenario would be a break above 16919 but beware of that head and shoulders!
- Bearish scenario is a bearish retest of the .618 golden fib $16574
- Measure move $16326
- Further support $16083.786 fib.
- Lack of volume right now and bears are in control
- SPX and NASDAQ hit hard yesterday and pre-markets are negative 1% if it stays like that then the SPX and NASDAQ would open below current support which could result in more downside.

Be patient and stick to your strategy!

Please hit the boost button if you like this update.

Back tomorrow.

Thanks

SIMON BPOI