Bull Trap in Bitcoin

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
BITSTAMP:BTCUSD Looks to be completing a bull trap and will likely drop to a $10,000 or $7,500 target before rebounding at all. Many technical indicators back this pattern up and make for a very convincing short.

Bitcoin is possibly a good buy around these two targets, but definitely not before. Stay away if US GOV starts pushing for more crypto regulations. If that starts brewing we might see lower than $7500.
That crossover may indeed correlate to the long holiday weekend, I would be careful of shorting, however any squeeze to move into the 20's will be helpful...
I don't know Rick...

BTC seems to have found support around 15k. My indicators are telling me the downtrend is about to end. In my opinion the next target will be around 16k and it should happen anytime before the end of the year. Then the January effect will kick in and we should have BTC around 17k-19k before the second half of January.
@siriux, looks like more downside here
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