After the huge bullish impulse, bitcoin is going through a retracement phase, which has reached an important support area (represented as a green rectangle) placed between 9,400 and 8,900 USD. Bollinger bands and the related markers underline that volatility is high. The aforementioned fact means volatility into the support area may decrease and then we could see a rebound with the first target at 11,800 USD. On the countrary, if the support area was broken out, a reaching on the support (represented in black colour) at about 8,000 USD could be possible to happen. The breakdown of the trendline in red colour, that links the maximum of the decreasing (points) of the retracement, will confirm the end of the bearish movement. For those willing to buy into the support area, I suggest setting the stop loss and handling in a correct and proper way the available capital.