Correction

This dip might look intimidating, but it looks like it is still within the range on the daily macros since we are still bouncing back and forth in the .2618 and .3618 fib levels.
I am seeing three scenarios here that could play out.
1- It could be a reverse head and shoulder where the shoulders sit at the $60,900 to 62,900 range. This would be a local floor on how far the price can dip.
2- This correction could be more extreme and we could see a price movement all the way to 56,800 to form a double bottom before taking off to new all time high. If this plays out, it would take a little bit longer to recoup back to higher prince range. This also means there is more time to accumulate and dollar cost average.
3- The last scenario is very bearish and we could see a price decline all the way to $44,400, but thus far, this is unlikely to happen since we still don't have evident signs of going there.

In summary, the proffered scenario is the first one. We'll most likely see bitcoin forming a bull flag or a pennant before continuing to 80k range.

Not a financial advice.