Looking at BTC we have been stuck in this downtrend for a few weeks now and a couple bottoms could be in sight, the Fed tapering news could be playing into this for sure and aswell as the evergrande defult, seems like everytime we start making some progress some form of news pops up lol. personally i think we are seeing big time accumulation phase going on in the background, remember the market gets very greedy quickly and usually results in a correction/fear. Its very hard to point out a direction just because how volatile the market currently is, we have a couple different scenarios to go over. First of all know one knows exactly, but in my eyes this would be a perfect bear trap, reason being is because we just saw a 9 day phase where we we're bouncing inbetween 51.2K - 46.9K also shown by the significant level (blue turned orange rectangle ) Bear traps are meant to fakeout the bears with a "significant" breakout just to rebound to the upside stopping many traders out. The second scenario would be a continued fall to the 0.3FIB as our first level of major support where a bounce is possible, next we have 42.7K level which isn't as strong and then our next significant support in the 40K range. Lets look at the RSI, we are in a little uptrend but more of a bounce and travelling up our support line there are clear areas of resistance above us and its going to take a good push to get back over that key level that is, the midline, we want to see a strong push up and above here and hold to get back in a confirmed uptrend. Lastly the Stoch RSI, in a pair with the regular RSI the Stoch is indicating a possible bearish cross here which could pull things down along with it, wouldn't be super bad we still have a ways to go before the 0.3 FIB level where it does give us that chance for a bounce, not financial advice just my opinion!