The bull market is in danger. Critical support in the mid 40k's will determine if the bull market is to continue. This mid 40k region coincides with the 21 week moving average, which is the bull trend support from past cycles. This is the 4 hour, but if those levels break on the weekly timeframe set some ammo on the sidelines for a new bear season.
The more likely scenario is a strong bounce and continuation in the bull market. Everyone is looking at the 21 week MA, including the whales. That said, the bears are probably starting to salivate looking at the downside gaps and upside resistance.
Simple is good. Open a chart and draw some lines. Like & Follow if you enjoy my ideas.