BItcoin - Falling trend line established, eyes 50% Fibo support

Bitcoin's retreat from the falling trend line resistance if followed by a day end closing below 651.39 (38.2% of 435-785.15) would open doors for a slide to 50% Fibo support at 61.08. Such a move would also indicate the retreat from June 18 high has resumed.

On the higher side, it would take a day end closing above the falling trend line to suggest the retreat from June 18 high has indeed ended and prices could move higher to 700 levels again.