Thanks to some "Korea Bans Bitcoin" FUD news, we slammed into the existing triangle floor a little too hard and various exchanges busted the previously solid rising trendline
(except Bitfinex). This sets up a possible lower triangle floor as we slowly, carefully rebound from this danger zone. Bulls are not climbing strong here, nerves have been rattled, so even a presumed run to the top of the triangle would likely run out of steam around 15,300-15,500 (16K is commonly hoped for but would be max). In this scenario, the next selloff wave would prove too heavy for the triangle to hold, and we'd fall out the bottom first to 11K, with a minor dead cat bounce before the last drive down to the bottom of this pitchfork
around 9K. Obviously such a dive would be very brief, just kissing that low point and then springing back up again to the familiar 14K
consolidation zone we've been playing in so long.
And NO, such a spike to 9K isn't so damn dire folks :P Wouldn't mean the death of anything, in fact bitcoin
would still recover nicely and continue slowly up the recent overall bull trend. This is just about blowing off steam from the steep rise to the ATH