Bitcoin is showing signs of a market reversal. Bearish reversal in the overbought RSI and MACD histogram indicate that the market is overbought and is preparing to consolidate. Support is at the 12 SMA, 23.6% fib retracement at $15250, 38.2% fib retracement at $12,400, and the trend line drawn above.
Comment:
On GDAX, BTC dropped to 14200, and 15500 on Bittrex. 'Coincidentally', Bitcoin Cash was released for trading on GDAX minutes after the BTC selloff, which may further detract from BTC's price on that exchange. Be wary. Set stop losses. Anything could happen here, even a BTC retracement to 13000.