They say parabolic moves often correct 80% which is $20,000 --> $4000 which is close to the current price
Also this parabolic move started after the last time BTC -0.32% went below the 200WEMA (Marked first arrow). This is the first time since then it is crossing the 200EMA. Lets see if it takes support here over the next week or so.
Ps: This in no way is a buy indicator but its worth tracking to see what it does around the 200WEMA