BTC Breakdown and Retest

I see two options playing out

1. We break through and reclaim the previous resistance (overhead trendline resistance)
2. This is a bearish retest of the previously touches trendline, the move will likely correct in a manner that exceeds expectations. As a result I see $22,000 / $20,000 (worst case) as being the targets.

This is a contrarian view, but we should respect the trendline that held support previously, currently this just looks like a lower high.