Bitcoin has been consolidating above $60K over the last few months. Yet, the price has broken below the level today, and investors are panicking. This is not a good moment for holders.
From daily time frame we may see a short buy to fill the imbalance and likely trade to supply zone before retracing back to demand zone. If the demand zone at $50K region couldn't hold BTC price, then we might see it trade down to $47K to $40K to fill the imbalance and probably collect the remaining money at $40K demand zone or what we call oder block.
NOTE! This post is for EDUCATIONAL purpose not for financial advise.