1) BTC is in a bear market
2) BTC is not going to zero
3) Every bear market needs eventually a bottom; 6K was the bottom? seems to confirm
4) Daily it looks like a has formed/is forming (next 72h will confirm)
5) FIB confirming levels of .
If the is indeed the case here we would see a bounce to 8800-8850; and from there eventually going to 11100-11500. If the latter happens, we would also half way in break the bear and puts BTC up for a potential new bull rally.
Could we break down further? Absolutely, but at this moment, only if (in my view), there is a news catalyst to do so.
The double bottom outlined before, is not longer in play. We may still see a double bottom, which is visible on the weekly - however, important is the closing of the weekly candle around 7900 for this pattern to work out.
5950 is the bottom we could hit, but I expect a bounce and expect a green daily candle tomorrow (hopefully around 7700).