Following bitcoin's highest value around $18000 and where it dropped to around $3000, the 61.8 fib value sits at approximately $13500.
Market has hit this and now dropped to around $11000. However I believe there is likely more drop to around $7500 or even possibly lower as depicted in my chart.
The from $3000 region drop to the most recent high at near $14000 gives the of $7500.
Let's wait and find out if this theory plays out.