Bitcoin Heading Lower to Re-Test $19,500 and Likely Break Lower

BTC is rolling over just as I drew on my charts last week and during our live Wednesday class.

We have a Bearish ERI signal (Custom) on the daily and our Trend Strength Indicator (TSI) is also rolling over printing a Red reversal signal.

Will be interesting to see how the weekly chart closes tomorrow.

For now, looks like we're heading lower and I would expect to see a drop to around the 17K level for a bounce, but ultimately looking for a bigger drop to the 400 Week Moving Average around $12,500 and the possibility of a capitulation to down to $10,000 or even $9750 where the last remaining unfilled CME gap is located.

Let me know what you think?