BTC to $16,600

I think you will find this chart pretty self-explanatory. There isn't much of any support beyond $30k if we are to break down lower. We will most likely get a very short-term bounce, maybe a revisit to $40k, but the downward momentum is far too high at this time. Fear is extremely high. The shakeup with LUNA reduced further confidence, so I believe we will soon ride much lower.

For the overall market analysis, please look at this post and leave your comments.