Bitcoin failed to sustain support at the 0.50 Fib level after it rose & tested the 0.618 fib line
However, we are still above the 20, 50, 100, & 200 EMA on the Daily Chart
I believe Bitcoin will retrace back within the triangle and first test support at the 0.382 Fib line ( or 20 EMA)
If that support is broken, expect a downwards movement towards the 0.236 Fib line and so forth.
The worst that can happen is a retracement/correction back towards the 9500 dollar region (or 0.618 Fib)
However, we are still above the 20, 50, 100, & 200 EMA on the Daily Chart
I believe Bitcoin will retrace back within the triangle and first test support at the 0.382 Fib line ( or 20 EMA)
If that support is broken, expect a downwards movement towards the 0.236 Fib line and so forth.
The worst that can happen is a retracement/correction back towards the 9500 dollar region (or 0.618 Fib)