Bitcoin Faces Resistance Around $20K

Bitcoin has gained some steam but appears to have topped out in the low 20K's. We are seeing red triangles build confirming resistance. We could not even hit our next target at 20.7K, which is a sign of weakness for BTC. This remains a target to the upside. If we retrace, which is highly likely, we should see support at 20K, then 19.5K, with a floor of 18.6K.