Bitcoin Retrace Over?

Bitcoin (BTCUSD) took a two days break and is starting to bounce.

It is challenging EMA10 right now after a false breakdown below the 0.786 Fib. retracement level from the last bullish wave.

If BTCUSD can remain above EMA10 ($8057), this is a good signal telling us that it is likely to go higher.

But if BTCUSD moves below $7993 (0.786 Fib. retracement support), it can easily below lower (red arrow).

To the upside, the next target is sitting at $8168 followed by $8225 (short-term).

Depending on how these levels are handled, we focus on what happens next... What's your take?

Namaste.