Bitcoin bounced off of the 38.2% Fibonacci retracement level and fell to $9850 in a trend that has been developing since December 2018/2019 swing lows, and June 2019 swing high. Bulls are still holding the supply line of the Fibonacci channel it has been respecting since December lows. if this channel breaks with a close outside it, the 23.6% retracement level at $8957.17 acts as support. If the daily closes below that level, shorts should seek profit at $6427.04. If the price does bounce from $8957.17 or the current supply line does hold, Bitcoin may retest $10,522.42 and has until early March to do so to keep the bull trend in tact. A close above that could see prices then test the 50% retrace level at $11,787, the 61.8% retrace level of $13,052.55, the 78.6% retrace at $14,853.66 and even possibly $17,147.93.