BTC Update: Bear Market Not Started Yet!Bitcoin / U.S. dollarBITSTAMP:BTCUSDVIPCryptoVaultBitcoin has retraced from its recent highs, but this is a healthy correction, not the start of a bear market yet. The price is currently testing a critical area of support. We are now sitting right on the 61.8% Fibonacci retracement level of the previous major bullish wave. At the same time we are printing a HL on the daily timeframe. Hence, our daily bullish structure is still not broken yet. A strong bounce off this $90,000 - 61.8% confirms that the recent downturn was simply a correction. A sustained break and close below $90,000 would invalidate this bullish bias, potentially confirming the start of a true bear market phase. Shorting Is Dangerous Here The current price action is highly volatile, but the technical probability favors a bounce from this key level. Its like catching falling knives at this point. My Bias: BULLISH above $90,000. Wait for confirmation of a strong close above current resistance before entering Long, or look for Long entries near the $90K mark with a tight stop. Good Luck!