$BTC
See photo and description below
![](https://public.bnbstatic.com/static/content/square/images/a99720955c7142b3910221fbbf24cccb.png)
![](https://public.bnbstatic.com/static/content/square/images/011fb33f85e74193890f7239e5ef0e2e.png)
![](https://public.bnbstatic.com/static/content/square/images/f980840eee4d4d4b894449934a2c2131.png)
If the price drops again, it indicates a completely bearish trend. A break below $53,000 will serve as confirmation of this bearish movement. Trading below $53,000 would result in a candle closing below the 200-day EMA.
My projected bottom is $46,000, which I consider a potential entry point for a long position. The market could still decline further to the $36,000-$30,000 range, but our initial focus should be on the $46,000 reactive price zone. If there is no significant reaction at $46,000, then we should consider the $36,000-$30,000 level as the next key support zone.
![](https://public.bnbstatic.com/static/content/square/images/894648a8d8d94a09bc475e7dbf088a8b.png)
On the other hand, breaking this trendline on the daily timeframe will provide renewed hope for the bulls. We have also identified a bullish divergence on the daily timeframe. However, the presence of two consecutive red candles, visible as rejection candles on the trendline, indicates that the bears are strongly defending this level.
![](https://public.bnbstatic.com/static/content/square/images/b199ba3370584fec9d1f23baedf3217a.png)
Again these are not financial advice
stay safe and stay healthy everyone