BTC price faces 20% drop in weeks if Bitcoin avoids key level — Analyst By Cointelegraph

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(BTC) stayed rigid below $17,000 at the Dec. 19 Wall Street open as skeptical traders feared more downside.

1-hour candle chart (Bitstamp). Source: TradingView

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering around the $16,700 mark, practically unmoved over the weekend.

BTC/USD annotated chart. Source: Crypto Poseidon/Twitter
BTC/USD annotated chart. Source: Michaël van de Poppe/Twitter
GBTC premium vs. asset holdings vs. BTC/USD chart. Source: Coinglass