BITCOIN Poised for 16K Pullback

The daddy of digital assets looks poised for a short-term healthy pullback to the lower $16,000 range before resuming uptrend. This is further supported by a potential head and shoulders pattern that paints a similar downside target. If there is more upside to this market, we would expect the BTC price to hold above its crucial trendline support. Otherwise, a daily close below the said trendline would be devastating to bulls.