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BTC Daily chart towards 200 EMA ($8500)

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Are we out of the woods yet? I don't think so.

From the support level at $5800 to the highest at almost 20k and now at 10k level, we're seeing a full retracement of the market.

On the daily chart, there seems to be confluence at the 78.6% fib level with the 200 EMA at the $8500 region.

The EMA, MA indicates that we are heading downwards to this direction.

Other than that, I believe the CME pro traders does have ammo to push the price down.
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base on the lastest chart, it's still hovering at the 78.6% fib. EMA and MA indicators are not positive in my opinion.

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