What happens: I believe this is a short term correction. BTC hit the 5th arc pair in a 60min set-up
Where can we go: I hold 8600 for a likely target which is the bottom of a square.
And if not: the next target and quite heavy support would be around 8100 where the price will hit the 3rd arc pair of the down set-up and the top of the first square of the uptrend set-up.
Trade safe!