Quick update on the BTCUSD market.
We can see that the price failed to break above the 200 sma on the 1hr, price action followed and we broke out of the channel to the downside at 15k and found short term support at 14k.
14k is critical support and will indicate our next move.
Should price consolidate above 14k I expect that the market will respond with confidence and I would go long above 14k.
Should the support at 14k fail ($13 7000 Bitstamp) I will look to enter another short with a target of 13k -12k.
If we face a drop below 14k I expect the bulls might be lurking around 12k – 13k to catch the knife.