Bitcoin Analysis December 22, 2017

BTC/USDAfter a major hack in South Korea, Bitcoin has taken a bit of a tumble, but more pressing is the holiday season coming up. I believe that most of the selling pressure that we are starting to see is due to retail traders cashing out the gains to buy Christmas presents. The $16,000 level below has been supportive, and that support extends down to the $15,500 level. However, if we break below $16,000 again, we would trigger a descending triangle that could measure a move all the way down to