Will 61.8% Level Hold?Price as playing with the 61.8% Fibonacci Retracement level. This level has been acting as a strong support since August 17, but the pressure of the sellers keeps bringing the price back to this support level, which is not a good sign for the bulls. One one hand I remain bullish on this asset for the medium to long term, but my short term outlook is that if we don’t see multiple green candles soon we will have to visit 78.6% retracement level. This correction wave is the second wave of the 5 bullish elliot waves. A correction below 0.786 will invalidate the idea of a 5 bullish elliot waves.