Bitcoin bounced off the 38.2% Fibonacci retracement against the U.S. dollar (USD) from the trend based December 2018 swing low to June 2019 swing high. If this scenario were to continue the bullish momentum then longs started now could take profits at $11,782, $13,047 and $14,848. If this trend turns bearish below $8,951 then shorts could profit at $6,421. The golden cross of the 50 & 200 moving averages suggests this bearish scenario is unlikely.