BTCUSD Possible bullish scenario after a short term retrace

Hi guys, thanks for stopping by! In the past few days BTCUSD has been running out of steam. It plausible that there can be a short term retrace to the previous low on the daily chart. Only to go higher afterwards. This has not been confirmed as of now, however, on the scale of probabilities it looks like a possible scenario.
Please share your thoughts.
Happy trades!