Bitcoin looks like a short in near term and looks bullish in LT

Bitcoin is a very unique opportunity in the financial universe as it presents a possible change in how we value currencies and how we use currencies itself as we may well move from paper currencies to this new world of digital currency. That being said about the tremendous value of this new currency......you still have supply/demand and basic market scenarios playing out here which is that there may be a retracement coming up based on technical indicators. The product itself is revolutionary but price discovery will continue to be elusive as long as it's in this momo. hysteria type of phase. Going back to any investment that "went up like a straight line..........they ALL eventually retraced some if not a good bit" soooooo basically saying this is a revolutionary product and investment but will have many points of price discovery along the way. Right now......based on basic FIbs and MacD......Bitcoin could retrace to 16725 for a 23% Fib retrace or to 14914 area for a 38% Fib retracement.