Bitcoin and the Fibs - Is The Crypto Winter Coming?

I put these Fibonacci Retracements on this chart a month or so go.  I was trying to find the potential downside when BTC was trading in the $9K range.

I did not think BTC would fall so fast.  The chart served as a guide in case it did.  I tend to look at prior support levels to find clues on where an instrument may trade.  I put a great deal of emphasis on horizontal support and resistance.

Take a look at the range of $6300 - $5700, that is strong horizontal support.  A day or so ago, BTC got down to $6819 and rebounded to $7207, where it is currently trading. This downward move showed a great deal of volume.   

I'd like to see some side ways action at the current level for sometime.  If this happens, I think the probability is we may go higher.  If not, look at that $6300 - $5700 range as the next support level.

If $5700 is breached, look to $5135 for the first support level.  If that does not hold, BTC could return to the $3000 level.  If that happens, welcome to the Crypto Winter.