$BTC
See photo and description below
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.
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.
Again these are not financial advice
stay safe and stay healthy everyone