Bitcoin recovering to test key Fibonacci level after recent dip

Bitcoin had dropped significantly from our analysis on the 27.05 where it was at $8200 passing the key Fibonacci level resistance level at $8029 and we expected it to go higher. However, since then it dropped towards $7500 before heading back up towards the $8029 Fibonacci level. The dip was unexpected to us but can be attributed to an escalation of US/China trade tensions and an increase in Gold price from below $1280 on the 27.05 to nearly $1350 on the 07.06. Bitcoin is seen as safe haven and so is Gold so Bitcoin we believe could have been impacted by a significant increase in demand for Gold which resulted in less demand for Bitcoin.