Bitcoin is in a downward channel and movement is normal

Bitcoin has been in this channel since June and looks like we're headed back up after a bounce. We bounced just below the .618 and bounced off the 377 SMA. All of this is very normal market movements and next stop could be 8100.00 and then short stop then off to 9200.00 area. If we stay in the channel we will head down to 6200.00 next down cycle around January 2nd 2019. Hopefully we break out of this channel time will tell.