Bitcoin setting up nicely for a move higher

$9000 is the 50% retracement level of the previous move and (according to Dow theory) is a likely bounce area for the next move higher. The 1.618 fib extension is a common extended move from the 50% retracement level and take a look where that is ----- smack on the old high, a logical place for the next move to stall for a while. Let's see how it plays out.