BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
This is not a financial advice and please trade based on your research and analysis.

I personally believe that there is another dump that can come down to 0.382 level of Fibonacci retracement that is around upper 7000 region.

Reason 1. The yellow line that is a resistance line from 2017 December. We couldn't break this trend line , so we are going to have some rejection.
Reason 2. After the big dump that occurred around March, btc pumped. So, we need some pullback to have a good push to the upside in the future.
Reason 3. The indicator just had a death cross (if you can call it)

If you guys have any ideas regarding my idea, feel free to leave a comment.