Let's say that bitcoin right now is heading for lower prices. Near future at least 5.5k. This rally will most likely stop at 6.9k tops. Since there is a double resistance line running through there. This correction is turning into a super bearish year long correction which was to be expected from crypto. People want to know what the bottom is. Let's say whatever you think it is, lower that estimate by a lot. And if you waiting for that cup and handle... great news! It will happen, but there is that thing that is called time and patience.
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It seems though 4.8k will represent a strong support and a significant bounce is to be expected but that does not mean that's the bottom...time will tell.
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Wow it went to 6899.5 twice and twice it got rejected. That just confirmed one more time how strong the resistance is.