BTCUSD is sitting near long-term support, the 61.8% retracement from all time low to all time high. Of course, its not a coincidence that this level was also a breakout level back in November, which has held two retests so far. It needs to hold this area yet again if bulls are to regain control. It may take time to consolidate, and the heightened volatility and recent negative headwinds could drive wild swings, so I'll be looking for a few weekly closes above or below this 61.8% retracement (~7600) to position for the next leg. Buying on the last test of this level worked well, so I will buy again on another retest. Bottom line... very short term bearish, intermediate term neutral, longer term bullish.