Bitcoin has been the victim of some correction for the past 3 weeks. 40k support level seems to be holding very well. I think this is the bottom due to the strong support level so far and the confluence with the 50% retracement I'm anticipating a double bottom formation on HTF to push price upwards. Chinese FUD is nothing to worry about as we have gone through the same cycle of fud from china for the past 8 years.