Bitcoin needs more momentum to break the $4900 imo and the only way is if we tap into liquidity near the low $4k area to add buying pressure. I would have thought the support levels we have already reached would have been sufficient but doesn't look like buyers are ready to jump in just yet so in all probability we're probably heading to test the lows again.
Once we reach the lower $4k area, I expect a strong bounce from the bottom of the channel support and/or from the larger support connecting the 15 November low. Price should then test the 386 fib and larger channel resistance around $4750. If price can break through the $4750 with then there should be a sustained move to 618 fib around $5100.
If price can break the $5100 resistance then I think my previous post trade idea can come into play with a final target of $5900.
Good luck and happy trading!