It's going to have the correction. Retracement is mandatory regardless of the monopoly.. Two Fib retracements are illustrated on the above chart. Long positions should be near $11000-$13000. This figure is the probable correction target. However at the current price; RSI shows diversion and a down momentum. Also the candlestick pattern indicates a downward move. BTC lacks the supports and resistances and the move is mostly speculative. Watch out for the twisted turns. From technical point of view, the Fib ratios can be nullified because of lacking trends, supports and resistances as BTC does not have much of technical historical data. Hence its pretty much speculative. People are considering this instrument as a safe-heaven against USD, despite of the commodities in more or less cases.
Happy Hunting
Happy Hunting