If you look at my post from October 5th you will see that bitcoin has dropped exactly to the .618 Fibonacci level. I believe it is going to capitulate between $7500-$7300 for another week then we will see if it decides to go up or down. If it breaks the triangle in the bullish direction then we can expect large upside. If it breaks and closes below the .618 Fibonacci level I will have to take a bearish perspective.