Fib Retracement & Fib Channels for XBTUSD. Next Stop Low 3500s

Next Stop low 3500s to test the 618 Fibo. Looks like you can place short sells into the resistance line to play the 40-80$ Swings that we will be seeing. BTC is looking to get back into pennant but there is much resistance here. The overall outlook on BTC is bearish with a good chance test to the top of the pennant near 3750-3900 range if bitcoin penetrates the pennant and holds. I do not suspect we go much higher than this. The time frame the much larger price drop is to be expected in the first two weeks of February.