BTC - Looks to be going lower to 7800

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
2216 0
BTC looks to be going to lower to the .618 FIB at 7800 with possible stops at 10500 then back up to 11500 then lower to 7800.

However :
if BTC is bullish its going to have to prove it by moving above 12K,
Order cancelled: closing this out as no bounce has occurred at the 10500 zone . Possible bounce zone will have to be lower at the 9800 to 9600 area,
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