I have been following bitcoin for over 2 years and imo if we have a daily close below 0.5 fib speed res fan then a major down momentum will take place which may lead to btc having a dollar value of around 5500.
This is a very pessimistic view, hence I strongly suggest everyone to take it just as a worst case scenario. Considering how simple a lot of the investors are, simple fear and small losses could lead to huge sell offs.
and as always
Good luck everyone!!! This is just an idea not advice!