Bitcoin is reacting to indicators much more in log scale. Notice the retracement to 3k was a perfect touch to the .382, and note the reaction to the median lines on this most recent run. Some wave analysts are calling this the middle of a wave 4 correction; possible triangle. This would make my area of confluence of $5600 a great place for a bounce.
Currently looking to reload my short in the $8600-8800 range with a stop above 9k.