BTC Testing SMA(200): Will it hold?

BTC is breaking down against the 200-day support level intra-day today, which coincides with the 50-week support level. The next support level comes at the 200-week support on the weekly chart at around $18,200.

If BTC rebounds off the 200-day/50-week support, we would expect exciting returns; but if it breaks down, we can expect more pain to come.