The Daily Chart is a crucial timeframe for the future direction of BTC. So, BTC dropped out of its Symmetrical Triangle and is on a downtrend. The RSI is indicating BTC has room to drop further before becoming oversold, that doesn’t mean it will. The ADX DI SMA is indicating a downtrend because the -DI (Red Line) is at 26 above the +DI (Green Line) which is at 18. The ADX (Yellow Line) at 16 so this is indicating that although it’s a downtrend, it is actually a weak downtrend for this timeframe. The 10 Period SMA is above the ADX line at 31 so confirmation of a renewed uptrend will be if the ADX line crosses back over the SMA line, ideally above 20-25 because that would indicate an uptrend of strength, & we would need the +DI Line to cross back over the -DI Line. A good sign will be when the Price makes it back over its Bollinger Bands Midpoint basis & manages to turn that into strong support. If BTC does not find strong support at the 50EMA and Base Line (Kijun Sen) Levels on the daily timeframe, then the Price will possibly drop to around its 100EMA level on the daily. This does not mean BTC is in a longterm downtrend, for that to happen, BTC would have to cross its Leading Span A (Senkou Span A) Cloud (Kumo) Support, its 200EMA, its Leading Span B (Senkou Span B) Cloud (Kumo) Support and drop into the bearish zone along with the Lagging Span (Chikou Span) on the Daily timeframe. I would start to think that’s a possibility if the Price fails to hold above the 100EMA on the daily chart. We must also keep an eye on the volume to see if the each day is closing on increasing or lessoning seller volume on the daily. It is good practice to check earlier time frames to see if there might be a continuation of what’s happening in the 1hr, 2hr, 4hr, 6hr and so on to see if things are slowing or if there is a cascade effect happening. What i find crazy is that people are willing to buy BTC at an all time high of $42K but not willing to buy after a dip to $31K or to its possible lowest of $24K if the 50EMA fails. When BTC goes back up, an it eventually will, people will be asking, when will it go back down so i can buy cheaper 🤯. I hope this is helpful with your trading or Hodl-ing.