Despite the bearish sentiment, BTC has been holding below the 20,000 level for some time and we could soon see some Bears start getting nervous, as we break through the downtrend line.

If we start to spike up from here, a rally towards 28-32,000 could be possible in a relatively thin market. If you risked a break into new lows, a couple of thousand points below current levels, the risk/reward ratio is quite attractive.

*Market Observations are NOT trading recommendations*