$16,400 first support level, likely will retrace to 0.382 fib retracement from 5k bottom to 19.5k top (13.9k) - first target. Second target 0.5 retracement ($12,200).
Will build long position at $13,900 down to $12,200.
Expecting the to happen in relatively short order (Mid Dec).
Good indicators to observe will be futures backwardation and negative funding on derivatives.