We are thinking that market is in panic but as per our observation this panic is not organic and intentionally created as big fat institution will not like to enter at high price and we hope you to got this news, now one more big American Insurance company MassMutual has invested $100 million recently after Micro, greyscale etc.. And Greyscale is still not stopping and bought an additional 14,591 Bitcoin ($266 million) and 105,000 Ethereum ($58 Million) .Please understand and think about it and get the idea, why bitcoin is going down and bouncing back again and again from the last one month.
As per our analysis , immediate resistance is at $18500 which is 21 days MA once it breaks and closes above we might see it back to $19k and if it will be able to close above ATH and $20k then we don't see any stopping before $23k. RSI is also looking good. We might see bitcoin in the worst case at $16500 then $15400 and immediate support at $17200 till this level nothing to panic. So keep your eyes on support and resistance.