Bitcoin Breaks Down!!

Bitcoin has broken down from the consolidation pattern we noted yesterday. We alerted you to the fact that such a constriction in volatility was to result in a breakout or breakdown. We are currently finding some support at 32.3K, the level projected by the inverse Fibonacci extension levels we drew from our head and shoulders pattern. If this does not hold, then we have further support at 31K. It seems like Bitcoin wants to fully test the extremes of the range again, so we may see these levels in the low 30K handle soon.